Key conclusions
The contradictory nature of the new world system consists in recognizing the importance of self-sufficiency combined with the inevitability of cooperation
“It seemed to us that the main collision, the main dialectic contradiction within the new world system of the future consists in everyone precisely recognizing the importance, necessity and indispensability of self-sufficiency, that is, the ability to survive under any circumstances by relying on one’s own resources. Yet, at the same time, it became quite obvious that co-operation is inevitable however events might unfold in the future. So the world will be different but will not break down into isolated elements, into isolated blocks”, Fyodor Lukyanov, Academic Director, Foundation for Development and Support, Valdai Discussion Club, and Chief Editor of the Russia in Global Affairs Journal.
“The general understanding that globalization is in crisis – this was talked about several months ago. And the pandemic showed this – it became, as it were, the last nail in the coffin of globalization. What is happening in the current context? Indeed, one specific thing arising in the world today is the need for self-sufficiency and, at the same time, cooperation”, Director of studies at École des Hautes Études en Sciences Sociales (ENESS) in Paris Jacques Sapir.
“We speak of the need to develop our own aviation industry, for development in aviation and engineering, and of the need to become independent of the USA. And, at the same time, we talk about equal cooperation, collaboration. We have stopped being a closed economy, stopped being a self-sufficient economy but it is also necessary to ensure a sufficient level of openness in order to use all the advantages existing within the framework of a big market”, Wang Wen, Executive Dean, Chongyang Institute for Financial Studies, Renmin University of China (RDCY).
Sanctions have become a means for waging war rather than an alternative way of managing international relations
“At one point before the latest war if economic measures against Russia, again, when, together with colleagues, we were discussing the sanctions problem and the crisis of institutions, we even developed the hypothesis that, during the crisis of institutions, sanctions introduced against one another are different, that they are an alternative means for managing international relations. […] Now they are […] exclusively a form of warfare. Exclusively, nothing else. And, strictly speaking, the slogans declared, specifically “To cause irreparable harm to the Russian economy”, so that is that, really? It is, indeed, war. I suppose it is better than other forms of warfare, but maybe not. We’ll have to see”, Fyodor Lukyanov, Academic Director, Foundation for Development and Support, Valdai Discussion Club, and Chief Editor of the Russia in Global Affairs Journal.
“A lot has been said about the pandemic. I believe this was humanity’s last chance historically to get together after all and see off a common enemy collectively, an enemy with no ideology or any resources, […] even so, instead we saw the vaccine race. Now this is virtually automatically recorded as a wrong-doing by our country”, Ambassador Extraordinary and Plenipotentiary, Permanent Representative of the Russian Federation to the European Union Vladimir Chizhov.
PROBLEMS
The processes under way in the world economy are like a landslide and the world is facing global challenges
“It seems to us that the processes taking place in the world political-economic system have now become a landslide. This stops us building hypotheses about the immediate future because it is quite difficult to predict anything when standing in the path of landslide itself”, Fyodor Lukyanov, Academic Director, Foundation for Development and Support, Valdai Discussion Club, and Chief Editor of the Russia in Global Affairs Journal.
“In recent times, the world has come up against a whole series of such global challenges. Some are calling this a perfect storm, others use different epithets but this is definitely not the end of the story”, Ambassador Extraordinary and Plenipotentiary, Permanent Representative of the Russian Federation to the European Union Vladimir Chizhov.
“This [collapse of the globalization concept – Ed.] is a tragedy suffered by the governments of all countries. Because the global economy also means a global division of labour, and global production, which inevitably force their way across state borders and affect the economy of the state, and it is now a pity that such a situation is taking shape, that division and disruption are occurring on international markets, at the level of goods and commodity markets, causing virtual backsliding”, Wang Wen, Executive Dean, Chongyang Institute for Financial Studies, Renmin University of China (RDCY).
SOLUTIONS
Development of a new global political-economic system
“A new world order is currently taking shape, the so-called Indo-Pacific strategy. […] New links are being forged. Efforts must be made to avoid war while also avoiding US hegemony. So the developing economies must attain a high level in new technologies, ensure self-sufficiency and, at the same time, maintain close links for cooperation and support for investment. It is also necessary to develop a broader approach, a broader vision of what it taking place”, Wang Wen, Executive Dean, Chongyang Institute for Financial Studies, Renmin University of China (RDCY).
“The previous system will not, of course, return while the new one, we don’t know what it will be, but it will be different. And it will be made up of elements remaining chaotically from the old one. But, undoubtedly, its elements and blocks will remain in some form”, Fyodor Lukyanov, Academic Director, Foundation for Development and Support, Valdai Discussion Club, and Chief Editor of the Russia in Global Affairs Journal.
“What will help us survive in the given situation? International cooperation, scientific technologies and international corporations are exceptionally important and people should, I believe, be reminded of this, this is truly a part of the world around us”, Chief Director, Institute for Economic Research on Innovation, Tshwane University of Technology, Rasigan Maharajh.
“We [Russia – Ed.] did not have largescale markets, meaning we could sell to Russia, to the EAEU, but when we went out into the world, we came up against competition, with such historically global players, monopolists. […] And now the opportunity is arising because a quality solution, be it more expensive, is a risk premium that can indeed be paid in order to recreate anew the effect of confidence in company activities”, Vice President, Russian Export Centre, Stanislav Georgievsky.
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