Americanocentrism and Multipolarity in the Global Economy (Trade Policy and Financial Aspects)
More global multipolarity has not diminished up to now the US influence in the world economy. On the contrary American possibilities for maneuvering have increased. For example this can be observed in the case of the trade negotiations and exterritorial sanctions policy. Turbulences in international trade during last years are partially the result of objective factors such as increasing global competition, the appearance of new important actors at world markets, malfunctions of multilateral trade system. But the situation was seriously aggravated by the US disturbing unilateral actions in economic relations with main trade partners including Canada, Mexico, China and the European Union. The reasons for these actions were both economic and geopolitical. Especially it is seen in the case of US-China trade dispute in which the main goal for the US seems to be hampering China’s economic development. The US foreign economic policy may have long-term negative effects in particular increasing probability of substitution the WTO rules by bilateral and regional agreements. This would be equal to a sort of the global market fragmentation.
Strengthening global multilateral trade system fully responds to the interests of Russia. As well as more commercial motivation of Russia’s economic relations with all countries including Eurasian Economic Union. There is no sense in confronting the US on economic issues at the expense of losses for Russian companies and for the economy on the whole. Even without our interference Americanocentrism in the global economy will inevitably be decreasing.
Korolev I. Americanocentrism and Multipolarity in the Global Economy (Trade Policy and Financial Aspects). Analysis & Forecasting. Journal of IMEMO, 2020, no 1, pp. 12-22. https://doi.org/10.20542/afij-2020-1-12-22