Business programme

New World Economy: Not Global Anymore, but Still Interconnected

15 Jun , 15:00–16:15
The World Economy at a Global Turning Point
Valdai Discussion Club Session
Pavilion G, conference hall G6

The developments of the early 2020s including the pandemic and the military-political crisis in Europe have changed the world dramatically. The liberal-style globalization, which had been developing since the 1980s, is giving its way to another form of mutual relations, much more complex than the scheme that has existed so far. On the one hand, the universal system of common norms and rules is no longer working. States are emphasizing their own national interests, protectionist sentiments are growing, while the institutions of global governance are losing their effectiveness. On the other hand, the world is not falling apart, its interconnection is strengthening, although its forms are changing. The developments of 2020-2023 force a change in logistics and transport chains, and new configurations of partnerships are emerging with political and regional factors now playing a more significant role than before. Meanwhile, the manifestations of fierce competition – up to acts of outright economic warfare – reduce the overall transparency of the global economy, since many states are forced to conceal their trade and investment activities. Virtually all markets, from raw materials and consumer products to technology and culture, are experiencing a radical restructuring. The new economic system is still unified and interconnected, yet not global in the old sense. How will it be built? What are its opportunities and risks?

Welcome Remark
Andrey Bystritskiy, Сhairman of the Board of the Foundation for Development and Support of the Valdai Discussion Club

Fyodor Lukyanov, Academic Director, Foundation for Development and Support of the Valdai Discussion Club

Andrey Belousov, First Deputy Prime Minister of the Russian Federation
Arvind Gupta, Head, Co-Founder, Digital India Foundation
Benedict Weerasena Samarasena, Research Director, Bait Al Amanah Analytical Center
Gong Jiong, Professor, Vice-President for Research and Strategic Studies, University of International Business and Economics (UIBE)