Author page: Sergey Glazyev

Local Currency Settlement Between China and Russia in the Post-Covid-19 Era: Current State, Challenges and Solutions. Part I

DOI: 10.33917/es-8.174.2020.6-15

The research was prepared for the scientific project № 18-010-00500 that is referred to as “Challenges Russia facing with in the light of the new Integrated world economic system formation and transition from the Industrial society of the XXth century to the Information society of the XXIst century” and supported by the Russian Foundation for Basic Research. The paper is devoted to the actual issues of de-dollarization in global and cross-country relations (on the example of China-Russia ones). The main goal of the research is to identify the challenges and threats for RMB and ruble usage and work out the instruments and mechanisms to stimulate de-dollarization processes in the Eurasian region and worldwide. Firstly, we determine the key negative factors influencing word financial and economic system development and increasing the turbulence within it. Secondly, the history of local currency settlement (LCS) between China and Russia was accurately analyzed and divided into phases. Thirdly, we addressed the processes preventing its successful development (these tasks were solved in part 1 of the work). Finally, we offered the practical solutions to intensify the LCS between China and Russia and facilitate the building of new world economic order (part 2).

Assessing the Current State and Prospects of Russian-Chinese Economic Cooperation: Exchange of Views and Joint Position of the Parties

#6. For the High Norm
Assessing the Current State and Prospects of Russian-Chinese Economic Cooperation: Exchange of Views and Joint Position of the Parties

This article contains the results of joint scientific and diplomatic work of the two research groups — from the Chinese and Russian side: under the leadership of Chongyang Institute for Financial Studies, Renmin University of China (RDCY) and Counselor to the President of the Russian Federation. The uniqueness of this publication lies in the fact that a reader has the opportunity to observe the joint work including analysis of the Sino-Russian financial and economic cooperation benefits and “bottlenecks” of scientists, heads of leading institutions and officials in real time and in the process of coordinating the positions of the parties, to understand the complexity of diplomatic work and to assess the importance of agreements and results having been achieved.

Dogmatism and Scientific Revolution in the Economy

#5. To Understand. To Prevent. To Overcome
Dogmatism and Scientific Revolution in the Economy

Economy as an eternally living system does not stabilize at the equilibrium point, but passing through a structural crisis and renewing its technological and institutional framework, enters the new trajectory of growth. That is why, reduction of economic reality to search for equilibrium, applied by market fundamentalists, resembles attempts of medieval physiologists to disclose the mystery of life with the help of pathologic anatomy. Author of the article shows that neoclassical positive analysis, revolving around the doctrine of market equilibrium, is essentially a pseudo-scientific religion, substantiating the sacred right of private property. The conclusion is made that it is necessary to stop paying attention to the market fundamentalist demagogy and to pass to pragmatic economic policy in national interests — to implement a program of growth proposed by Stolypin club.

New Course: a Breakthrough Strategy

#4. Why that is needed?
New Course: a Breakthrough Strategy

The article proposes a systematic, pragmatic and creative approach to analyzing status and prospects of the Russian economy development in the context of global instability. This approach is distinguished by economic reality perception in all its complexity, characterized by nonlinearity, non-equilibrium and uncertainty of socio-economic development processes, by their laws awareness. On the basis of its application the authors have developed proposals for implementing an integrated public policies system for economy development and modernization on the advanced structural and technological basis, the implementation of which will accelerate the pace of economic growth and will allow to pass on to innovative development define for Russian economy in the world economic system. Nevertheless, let’s look at the situation from a viewpoint of non-economist.

New Course: a Breakthrough Strategy

#2. Mr Wanna-know-All's Questions
New Course: a Breakthrough Strategy

The article proposes a systematic, pragmatic and creative approach to the status and prospects analysis of the Russian economy development in the context of global instability. This approach is distinguished by understanding economic reality in all its complexity, characterized by nonlinearity, non-equilibrium and uncertainty of socio-economic development processes, by awareness of their laws. On the basis of its application the authors have developed proposals for implementing an integrated public policies system for development and modernization of the economy on the advanced structural and technological basis, the implementation of which will accelerate the pace of economic growth and will allow to pass on to innovative development.

New Course: a Breakthrough Strategy

#1. Choice of Identity
New Course: a Breakthrough Strategy

The article proposes a systematic, pragmatic and creative approach to the status and prospects analysis of the Russian economy development in the context of global instability. This approach is distinguished by understanding economic reality in all its complexity, characterized by nonlinearity, non-equilibrium and uncertainty of socio-economic development processes, by awareness of their laws. On the basis of its application the authors have developed proposals for implementing an integrated public policies system for development and modernization of the economy on the advanced structural and technological basis, the implementation of which will accelerate the pace of economic growth and will allow to pass on to innovative development.

What Staff is Required for Eurasian Integration?

#1. Beyond Design Basis Evaluations

In three years we have created the basis of the Common Economic Space, which will undoubtedly contribute to the competitiveness of our economy, will stimulate economic growth and expand our opportunities.