Activities - Comments

NATO expansion, the Ukrainian crisis and sanctions against Russia will most likely accelerate the strategic connection between Russia and China, and also accelerate the placement of China to the first place in the world economy. Sanctions are a particularly severe blow to export-oriented economies (EU, Germany, Japan, South Korea).

The strengthening of the synergy of the New Silk Road and The Eurasian Economic Community (EAEC) and the accelerated reduction of the West's participation in world trade and GDP are to be expected.

The Bretton Woods system will face new systemic challenges as the strengthening and creation of new international institutions accelerates. A further reduction of the global role of the dollar is almost certain. This will, among other things, significantly limit the spillover of Western inflation, enormous arms costs and productivity decline to the East and developing countries. The loss of privileges of the former economic and financial system, the deficit of energy and strategic minerals will most likely further encourage egoism within Western integrations and thus their dispersal (EU).

All in all, the constitution of a new multipolar world order has gained momentum.

Zivadin Jovanovic