24 25 26
May 2018
1 June
Valdai Club Session

GLOBALIZATION REVISITED: IS EVERY COUNTRY ON ITS OWN NOW?

15:00-16:15 Pavilion F, Conference Hall F3
Predictions about the advent of a new era in US policy and sweeping changes to past approaches accompanied the arrival of the new US President. In fact, the Trump administration is perpetuating many existing policies – albeit with one major exception: it is taking a fundamentally different approach to free trade by rejecting multilateral treaties and essentially declaring a return to bilateral economic relations and the principles of mercantilism. When the world’s largest economy shifts its priorities, it inevitably affects everyone else. How will world trade be structured with Washington pursuing a policy of ‘America First’? How will this impact international institutions, and how will the ideas of protectionism change the nature of economic and financial flows? And how should other economies react – advocate the adoption of universal rules of the game, or focus on saving themselves?
Moderator:
John Defterios, Emerging Markets Editor, CNN
Panellists:
Andrei Bystritsky, Chairman of the Board, Foundation for Development and Support of the Valdai Discussion Club
George Mark Malloch Brown, Deputy Secretary-General of the United Nations (2006)
Daniel Russell, President, Chief Executive Officer, US–Russia Business Council (USRBC)
Igor Shuvalov, First Deputy Prime Minister of the Russian Federation
Xu Sitao, Chief Economist, Partner, Deloitte, China
Ksenia Yudaeva, First Deputy Governor, Central Bank of the Russian Federation

Highlights

I think there is nothing more psychological than the economy. Russian society demonstrates tremendous flexibility in this regard, which is precisely the reason it is alive today and is developing far faster than it appears.

Andrei Bystritsky
Chairman of the Board, Foundation for Development and Support of the Valdai Discussion Club

Business in Russia is developing tenaciously and energetically; people want to live and create their own space and cosmos, naturally without separating it from the global one, and, actually, seeking their position in this global new world because, without globality, nothing will work out. And people in Russia understand this very well.

Andrei Bystritsky
Chairman of the Board, Foundation for Development and Support of the Valdai Discussion Club

The truth is, in a world divided not between countries but within countries, between those who are the winners from globalization and those who feel they are relative losers, we are entering into a period with much more nationalist policies, and that inevitably has a consequence for institutions like this.

George Mark Malloch Brown
Deputy Secretary-General of the United Nations (2006)

The interests of the Russian Federation are primarily in an open trade policy and that will make our economy stronger and more stable.

Igor Shuvalov
First Deputy Prime Minister of the Russian Federation

As China is becoming so big, China’s industry is becoming dominant; China also needs to understand that there is a strong need to open up the domestic market.

Xu Sitao
Chief Economist, Partner, Deloitte, China

Globalization and fragmentation are happening simultaneously, changing the structure of the global financial system. It is due to the fact that globalization is driven by two processes: the first is, naturally, policies, be they trade policies or regulatory policies, and the second is technologies.

Ksenia Yudaeva
First Deputy Governor, Central Bank of the Russian Federation

The wealth of the Russian nation, of the Russian state lies in expanding on to new markets.

Igor Shuvalov
First Deputy Prime Minister of the Russian Federation

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THE RUSSIAN LEGAL SYSTEM AS A FACTOR IN ATTRACTING INVESTMENT

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Dynamics of the Global Economy Roundtable

THE VISIBLE HAND: THE GROWING IMPETUS OF STATE-DIRECTED CAPITALISM

15:00-16:15 Pavilion G, Conference Hall G3
Russian Economic Agenda Panel Session

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In partnership with P&G

15:00-16:15 Pavilion G, Conference Hall G4
Dynamics of the Global Economy Panel Session

THE MISSION OF MULTILATERAL FINANCIAL INSTITUTIONS IN THE GLOBAL ECONOMY

15:00-16:15 Pavilion G, Conference Hall G5
Business Roundtable

RUSSIA–FRANCE

15:00-16:15 Pavilion G, Conference Hall G6
Dynamics of the Global Economy Bloomberg TV Debates

WHAT’S NEXT FOR THE GLOBAL TRADING SYSTEM?

15:00-16:15 Pavilion G, Conference Hall G7
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EDUCATION OF THE FUTURE: ALTERNATIVES AND OPPORTUNITIES