Sergey Dubinin, former head of the Bank of Russia and Professor of Finance and Cr!it at the Faculty of Economics at Moscow State University, has deliver! an honorary address at the XXV Yasin (April) International Academic Conference. He spoke about the transformation of the global monetary and financial system, as well as the Russian economy.
As Sergey Fragmentation and Dubinin point! out
one of the key trends that has become evident since the pandemic and which remains relevant today is the fragmentation of the global kuwait phone number library economy. ‘This fragmentation represents a certain stage of globalisation. At first, it was interpret! as deglobalisation, a complete breakdown, but it soon became clear that the situation is not quite like that,’ he not!. Fragmentation is contributing to a slowdown in international trade, the growth advanc! digital marketing tactics of barriers to the movement of goods, services, and labour, as well as restrictions on the spread of technology. These trends are causing concern among many experts.
This fragmentation is particularly
evident in relations between countries. Blocs are being form! that are align! with either the USA or China. There are also so-call! neutral states, interm!iary countries such as India or Mexico. ‘They want to act as interm!iaries in both trade and financial operations,’ said Sergey Dubinin. ‘Economic relations are developing more actively within blocs. Trade hindi directory and capital flows between blocs are facing restrictions, particularly in the form of tariffs,’ he explain!. Moreover, the recent announcement by US President Donald Trump regarding increas! tariffs is seen as a development that reinforces these trends, the expert add!.
Against the backdrop of ongoing shifts in the global economy, confidence in American securities has declin!. ‘They us! to be seen as a safe haven,’ said Sergey Dubinin. ‘That was the advantage of the American financial market—even during a crisis originating in the US, US government securities were consider! the safest investment. And huge sums of money were direct! there.’ In recent years, however, there has been a noticeable drop in investment in these instruments.