Foreign Trade Aspects of Economy Security in the Context of Russia’s WTO Membership
- 10.2991/aebmr.k.200730.097How to use a DOI?
- foreign trade aspects, WTO, economic security, reflexivity, sanctions, counter-sanctions, freedom of trade
The article is devoted to the identification of problems of Russia as a WTO member, related to its foreign trade activities, the analysis of the advantages and disadvantages of this membership and their impact on the foreign trade aspects of ensuring economic and economic security of the country and companies. A reflexive feedback mechanism under the influence of the self-reinforcing interaction of biased opinion and a trend created by thinking and reality is considered. The possibility of its action on commodity markets is substantiated. The hierarchical distribution of reflexivity from the level of individual companies to the country level, the level of supranational governments, and the inclusion of political motives in the formation of biased opinions are investigated. This manifests itself in ignoring the commercial interests of individual economic agents, restricting the freedom of foreign trade in contradiction to the main provisions of the WTO and introducing economic sanctions against individual companies, countries and individuals on this basis, the introduction of embargo on exports of certain types of goods and equipment. It is proved on the basis of the institutional analysis of the hydrocarbon market that the WTO system in modern conditions is unable to provide each country with economic security of foreign trade activities, availability of international credits for domestic investments and financing of foreign trade operations. It was shown that the only effective response of Russia is the introduction of counter sanctions, first of all, on perishable products, which allowed developing its own production more intensively, pursuing a policy of import substitution based on the introduction of new technologies and development of domestic innovation.
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - I.M. Podmolodina AU - V.P. Voronin AU - O.Yu. Kolomytseva AU - E.Yu. Kolesnikova PY - 2020 DA - 2020/08/01 TI - Foreign Trade Aspects of Economy Security in the Context of Russia’s WTO Membership BT - Proceedings of the Russian Conference on Digital Economy and Knowledge Management (RuDEcK 2020) PB - Atlantis Press SP - 532 EP - 537 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.200730.097 DO - 10.2991/aebmr.k.200730.097 ID - Podmolodina2020 ER -