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Russia, India, and China: Cooperation and New Role in the Development of International Relations

Author

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  • Sergey Y. Glazev
  • Violetta V. Arkhipova

Abstract

The research explores the fundamental structural changes in the world economy resulting from the shifting of technological mode (TM) and world economic mode (WEM). Based on the theory of long cycles in economic development, we defined practical reasons for current escalation of international tension and substantiate the hypothesis of world economic center moving to Asia. The article reflects on new WEM image with mixed economy combining strategic planning and market competition mechanisms, state control over monetary system, private entrepreneurship following public interests while regulating capital accumulation processes and creative self-realization freedom for all. The research proves the inevitability of the world financial and economic system restructuring on the ground of international law restoration with respect to national sovereignty, paying special attention to the extension of contractual legal relations in issuance of world currencies and regulating circulation, capital market regulation, information technologies, and international media space. We present ideas for creating a broad coalition of the Eurasian countries to speed up transition to a new WEM and thus prevent a world war. The leading role of India, Russia and China in this process is of special interest. Focusing on comparative analysis of current American-centric order and new emerging WEM, we predict the end of liberal globalization and strengthening of interstate cooperation. The article substantiates the hypothesis that global economic development in the twenty-first century will be determined by peaceful and constructive competition between two political systems of the new WEM: Indian and Chinese.

Suggested Citation

  • Sergey Y. Glazev & Violetta V. Arkhipova, 2022. "Russia, India, and China: Cooperation and New Role in the Development of International Relations," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 14(3), pages 301-318, September.
    • Handle: RePEc:sae:emeeco:v:14:y:2022:i:3:p:301-318
    DOI: 10.1177/09749101221082723
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    References listed on IDEAS

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    1. Pavel Aleksandrovich Minakir, 2020. "Pandemic Economy: The Russian Way," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 2, pages 7-18.
    2. S. A. Lukonin & E. O. Zakliazminskaia, 2020. "Transformation of the Socio-economic Model of China in the Context of a Pandemic," Outlines of global transformations: politics, economics, law, Center for Crisis Society Studies, vol. 13(6).
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