WORLD ECONOMY AFTER THE GREAT RECESSION: WEAK DYNAMICS, IMPACT OF THE COLD WAR ECHO

Abstract

The article includes principle ideas presented by the author in the report delivered at the International Conference in the Russian Plekhanov University of Economics which was dedicated to the 30th anniversary of the Department for Global Economy. The article analyzes global economy, shows reasons for its instability as well as a slow pace of restoration dynamics of recent years in the comparative aspect (US/EU - Japan - China - Russia). Special attention is paid to the Russian crisis in the light of relations with Ukraine and to sanctions introduced by Western countries against Russia after reunification with the Crimea, to dropping oil prices and collapse of the ruble. Speculations about possible ways of attaining economic growth in Russia, the necessity to smooth over the contradictions with the West and to provide the real integration of friendly countries in the European-Asian Union take the central place in the article.

Keywords

• global crisis (2008-2010)
• the great recession (2011-2013)
• washington consensus
• missed opportunities
• defective policy
• sanctions
• sustainable growth
• geopolitical catastrophe