Main Trends of Modern International Economic Relations in Conditions of Recession of the World Economic Order

Vasilyeva Nina I., Musieva Jamilya M.
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Today, it is natural to state the primary stage of the process of transformation of international economic relations in conditions of extreme aggravation of political and socio-economic relations. However, in the expert community there is no consensus on the essence of the transformation, its direction, goals and possible results. It is especially difficult to understand this issue in the context of the upcoming Russian Presidential elections in March 2024. Sociological services have noted in recent years an increase in anxiety among voters in the face of an uncertain future: first due to the coronavirus pandemic, then by the onset of the SMO, and since this autumn the Nagorno-Karabakh and Arab-Israeli conflicts . In the context of the post-pandemic recovery of the global economy, with its consequences essentially calling into question the use of the word “global,” the exacerbation of geopolitical tensions leads to an increase in the already observed fragmentation or deglobalization.
In view of this, the current conditions require careful reflection and the search for balanced solutions. Pessimistic forecasts for the growth of the world economy, given by international economic organizations and independent analytical agencies, are determined by a combination of factors, including a fall in consumer demand, inflation, an increase in government debt, etc. The processes of stagnation will be long-term and will lead to a fundamental transformation of the global financial and economic system. The transformation of the world political order simultaneously leads to changes in the system of international economic relations, creating fundamentally new realities leading to increased competition and contradictions between different states in various areas, the consequences of which have yet to be observed and analyzed.
Key words: dynamics of world economic development, deglobalization, multipolar order, global economic stagnation, economic sovereignty.