Modern technologies in the agricultural sector of Kyrgyzstan: myths and reality (crop production)

DOI: 10.33917/es-5.197.2024.56-61

The study covers key trends in the agricultural sector, institutional foundations for their development in the Kyrgyz Republic, and also presents some mechanisms for their implementation in crop production and the main problems that hinder this process.

References:

1. Analiz razmera i doli rynka tsifrovogo sel’skogo khozyaystva — tendentsii rosta i prognozy (2024–2029 gg.) [Digital Agriculture Market Size and Share Analysis — Growth Trends and Forecasts (2024–2029)]. Mordor Intelligence, available at: https://www.mordorintelligence.com/ru/industry-reports/digitalagriculture-market

2. Kontseptsiya tsifrovoy transformatsii Kyrgyzskoy Respubliki na 2024–2028 gody [Concept of Digital Transformation of the Kyrgyz Republic for 2024– 2028]. Tsentral’nyy bank dannykh pravovoy informatsii Kyrgyzskoy Respubliki, available at: https://cbd.minjust.gov.kg/30-164/edition/6414/ru

3. Zakon Kyrgyzskoy Respubliki ot 18 maya 2019 g. N 65 “Ob organicheskom sel’skokhozyaystvennom proizvodstve v Kyrgyzskoy Respublike” [Law of the Kyrgyz Republic of May 18, 2019 No. 65 “On Organic Agricultural Production in the Kyrgyz Republic”]. Ministerstvo vodnykh resursov, sel’skogo khozyaystva i pererabatyvayushchey promyshlennosti Kyrgyzskoy Respubliki, available at: https://agro.gov.kg/ru/%d0%b7%d0%b0%d0%ba%d0%be%d0%bd%d1%8b/

4. Proekt postanovleniya Kabineta ministrov Kyrgyzskoy Respubliki “Ob utverzhdenii Kontseptsii klasternoy politiki v agropromyshlennom komplekse Kyrgyzskoy Respubliki na 2023–2033 gody” [Draft Resolution of the Cabinet of Ministers of the Kyrgyz Republic “On Approval of the Concept of Cluster Policy in the Agro-industrial Complex of the Kyrgyz Republic for 2023–2033”]. Kabinet ministrov Kyrgyzskoy Respubliki, available at: https://www.gov.kg/ ru/npa/s/4327

Current Issues of Russian Foreign Direct Investment Exports: Monetary Mechanisms

DOI: 10.33917/es-5.197.2024.50-55

The article dwells on some current aspects of foreign direct investment (FDI) migration in Russia and abroad. The aim of the study is an attempt to theoretically reassess the role of monetary and credit mechanisms of FDI. The article provides information on the trends and pressing development problems of Russian FDI exports into the countries of Eurasian region and BRICS. According to the research, restrictive monetary policy in Russia is a significant obstacle to economic growth, foreign economic relations and FDI exports. Many economic indicators of the Russian Federation are negatively affected by the high key rate of the Bank of Russia. However, due to monopolistic structure of the Russian economy and many other factors, the restrictive monetary policy of the Central Bank of the Russian Federation often causes not only suppression of inflation and the increase in the production competitiveness, but excessive enrichment of a number of companies, banks and individuals at the expense of the economy as a whole. In the long term, in order to stimulate foreign direct investment, it seems feasible for the Bank of Russia to gradually shift from a restrictive monetary policy to a stimulating one, including for the purpose of optimal development of Russian FDI exports into the countries of the Eurasian region and BRICS.

References:

1. UNCTAD. World Investment Report. 2023. New York, United Nations, available at: https://unctad.org/system/files/official-document/wir2023_keymessages_en.pdfRRR

2. IMF. World Economic Outlook. Washington, DC. April, 2024, available at: https://www.imf.org/en/Publications/WEO/Issues/2024/04/16/world-economicoutlook-april-2024

3. Tatuzov V. Contemporary global economic crisis: Some conclusions for Russia and BRICS (taking into account Kondratieff long waves). BRICS Journal of Economics, 2020, no 1, pp. 25–40, available at: https://doi.org/10.38050/2712-7508-2020-8

4. Stiglitz J., Regmi I. The Causes and Responses to Today’s Inflation. Roosevelt Institute, 2022, available at: https://rooseveltinstitute.org/wp-content/ uploads/2022/12/RI_CausesofandResponsestoTodaysInflation_Report_202212.pdf

5. Key Rate Statistics. 2024. CBR, available at: https://www.cbr.ru/eng/hd_base/KeyRate/

6. СBR: Inflation and Consumer Sentiment. Inflation and Consumer Sentiment, 2024, no 4(88), available at: https://www.cbr.ru/Collection/Collection/ File/49132/Infl_exp_24-04_e.pdf

7. Macroeconomic survey of the Bank of Russia. October, 2024. CBR, available at: https://www.cbr.ru/eng/statistics/ddkp/mo_br/

8. FDI Database. 2024. New York, UNCTAD, available at: https://unctadstat.unctad.org/datacentre/dataviewer/US.FdiFlowsStock

9. The State Council on further optimizing the environment for foreign investment. Opinions on increasing efforts to attract foreign investment. Guo Fa, 2023, no 11, available at: https://www.gov.cn/zhengce/content/202308/content_6898048.htm

10. FDI database. Paris, OECD, 2024, available at: https://data.oecd.org/fdi/fdi-flows.htm

Potential GDP growth and social well-being of BRICS countries through the prism of a new distributed ecosystem of payment and settlement solutions

DOI: 10.33917/es-5.197.2024.32-37

The purpose of this article is to find options for solving the problem of trust in various settlement and payment instruments within the emerging new multipolar world, as well as the problem of managing inflation and pricing processes for the purposes of progressive predictable economic development. In analyzing trends, theories and solutions, methods of description, abstraction, analysis and deduction were used.

An analysis of existing practices in terms of instruments applicable for settlements and payments in international trade is conducted. Aspects of their application for transactions and operations with investment capital, which are currently nominated and processed using centralized monetary instruments, are also touched upon. The result of the study is the proposed concept of the UNIT ecosystem, capable of solving the problems of trust and inflation and, as a consequence, the limitations of existing instruments for settlements, payments and operations with investment capital in international trade.

References:

1. Mandelbrot B.B. The fractal geometry of nature. Macmillan, 1983

2. Black F. Business Cycles and Equilibrium. Updated Edition. Wiley, 2010.

3. Michels J., et al. Making sense of Target imbalances. CEPR, 2011, available at: https://cepr.org/voxeu/columns/making-sense-target-imbalances

4. Impossible Trinity. Wikipedia, available at: https://en.wikipedia.org/wiki/Impossible_trinity

5. Benigno P., et al. Cryptocurrencies, Currency Competition, and the Impossible Trinity. NBER Working Paper 26214, 2019, available at: http://www.nber.

org/papers/w26214

6. Nakamoto S. Bitcoin: A Peer-to-Peer Electronic Cash System. 2008, available at: www.bitcoin.org

7. Hayek F.A. A Free-Market Monetary System. Ludwig von Mises Institute, 2008.

8. Pozsar Z. Bretton Woods III. Credit Suisse Economics. 7 March 2022.

9. Gurley J.G., Shaw E.S. Money in a Theory of Finance. Brookings, 1960.

10. Banking and Currency: Hearings Before the Committee on Banking and Currency, United States Senate. Sixty-Third Congress, First Session, on H.R.

7837 (S. 2639) in Three Volumes (1913), available at: https://fraser.stlouisfed.org/files/docs/historical/congressional/1913sen_bankcurr_v1.pdf

International scientific and technical cooperation: from partnership to conflict

DOI: 10.33917/es-5.197.2024.32-37

International scientific and technological cooperation is a dynamic and innovative form of international economic cooperation. It involves the exchange of knowledge, technologies, and expertise between countries. However, it is often perceived as a static process, with little understanding of its dynamics. The aim of this study is to investigate the key stages of international scientific cooperation and propose a strategy for its future development. Three stages have been identified since the 1990s: the initial stage of development, the separation of developed and developing countries’ cooperation, and the current stage of technological confrontation. The study demonstrates that international scientific and technical collaboration is directly linked to globalization processes and follows their dynamics. Based on this understanding, a forecast for the future shape of international scientific collaboration is made. Scientific and technical ties will form around the core of globalization, with each core having a distinct technological focus.

References:

1. Birkinshaw J. Why do some multinational corporations relocate their headquarters overseas? available at: http://www.diva-portal.org/smash/get/diva2:487470/ FULLTEXT01.pdf

2. Li S., Alon I. China’s intellectual property rights provocation: A political economy view. Journal of International Business Policy, 2020, no 3, pp. 60–72.

3. UNESCO Science Report 2010, available at: https://uis.unesco.org/sites/default/files/documents/unesco-science-report-2010-the-current-status-of-sciencearound-the-world-en.pdf

4. UNESCO Science Report 2021, available at: https://unesdoc.unesco.org/ark:/48223/pf0000377433/PDF/377433eng.pdf.multi

5. Izvestnye initsiativy po sotrudnichestvu Yug — Yug i trekhstoronnemu sotrudnichestvu [Notable South-South and Triangular Cooperation Initiatives]. URL: https:// www.wipo.int/cooperation/ru/south_south/cooperation_initiatives.htmlhttp://www.diva-portal.org/smash/get/diva2:487470/FULLTEXT01.pdf

6. Number of college and university students from China in the United States from academic year 2010/11 to 2020/21. Statista, available at: https://www.statista.com/ statistics/372900/number-of-chinese-students-that-study-in-the-us/

7. Learning mobility statistics. Eurostat. Statistics Explained, available at: https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Learning_mobility_statistics

8. Danilin I.V. Amerikano-kitayskaya tekhnologicheskaya voyna: riski i vozmozhnosti dlya KNR i global’nogo tekhnologicheskogo sektora [US-China Tech War: Risks and Opportunities for China and the Global Tech Sector]. Sravnitel’naya politika, 2020, vol. 11, no 4, pp. 160–176.

9. Executive Order 14083 of September 15, 2022 Ensuring Robust Consideration of Evolving National Security Risks by the Committee on Foreign Investment in the United States. Federal Register, 2022, vol. 87, no 181, pp. 57369–57374.

10. Chaudhuri R. How Washington and New Delhi Can Further Tech Ties, available at: https://carnegieendowment.org/files/Chaudhuri_iCET.pdf

Energy Security of the Eurasian Economic Union in the Context of New Challenges and Threats

DOI: 10.33917/es-5.197.2024.22-31

In the modern world, deep structural changes are taking place due to changes in technological structures. This process is accompanied by dramatic changes in the system of economic assessments and large-scale shifts in the economy.

Global energy industry is facing serious challenges and upheavals, requiring the search for new development opportunities for the fuel and electric complex. There are two key components implied here. The first one is the energy challenges facing the Eurasian Economic Union. The second is the readiness to overcome them through joint efforts.

References:

1. Gavrilina E.A., Lakhno P.G. Pravovoe obespechenie stanovleniya i razvitiya energeticheskikh rynkov v Rossii (nefti, nefteproduktov i prirodnogo gaza) [Legal Support for the Formation and Development of Energy Markets in Russia (Oil, Oil Products and Natural Gas)]. Predprinimatel’skoe pravo, 2009, no 3, pp. 46–54.

2. Mezhdunarodnyy forum “Rossiyskaya energeticheskaya nedelya”. Panel’naya diskussiya “Global’naya energetika v mnogopolyarnom mire”. 12 oktyabrya 2022 g. [International Forum “Russian Energy Week”. Panel Discussion “Global Energy in a Multipolar World”. October 12, 2022]. Ofitsial’nyy sayt Prezidenta RF, available at: http:// www.kremlin.ru/events/president/news/69584

3. Abakumova M.M. Energeticheskaya bezopasnost’ EAES: vyzovy i riski [Energy Security of the EAEU: Challenges and Risks]. Innovatsii i investitsii, 2018, no 1, pp. 89–92.

4. Demidova E.V., Avilova V.V. Energeticheskaya bezopasnost’: vyzovy, riski, perspektivy obespecheniya: Monografiya [Energy Security: Challenges, Risks, Prospects for Ensuring: Monograph]. Kazan’, Izd-vo KNITU, 2018, 188 p.

5. Likhachev V.L. Energeticheskaya bezopasnost’ i napravleniya ee obespecheniya v EAES [Energy Security and Directions of its Provision in the EAEU]. Energeticheskaya politika, 2017, no 1, pp. 47–55.

6. Borodaev V.E. K voprosu ob energeticheskoy bezopasnosti Evraziyskogo ekonomicheskogo soyuza: Energeticheskoe pravo: modeli i tendentsii razvitiya: Sb. materialov III Mezhdunarodnoy nauchno-prakticheskoy konferentsii [On the Issue of Energy Security of the Eurasian Economic Union: Energy Law: Models and Development Trends. Collection of Materials of the III International Scientific and Practical Conference]. Pod red. A.V. Gabova. Belgorod, 2022, pp. 81–91.

7. Dogovor o Evraziyskom ekonomicheskom soyuze ot 29 maya 2014 g. [Treaty on the Eurasian Economic Union of May 29, 2014]. Ofitsial’nyy sayt Evraziyskoy ekonomicheskoy komissii, 2014, 5 iyunya, available at: http://www.eurasiancommission.org/

8. Dogovor o prisoedinenii Respubliki Armeniya k Dogovoru o Evraziyskom ekonomicheskom soyuze ot 29 maya 2014 g. (podpisan v g. Minske 10 oktyabrya 2014 g.) [Treaty on the accession of the Republic of Armenia to the Treaty on the Eurasian Economic Union of May 29, 2014 (signed in Minsk on October 10, 2014)]. Ofitsial’nyy internet-portal pravovoy informatsii. 2015. 13 yanvarya, available at: http://www.pravo.gov.ru

In Search of a New Paradigm of Socio-Economic Development. Part I

DOI: 10.33917/es-5.197.2024.14-21

The most important conditions for socio-economic development of countries in the «era of globalization» are now rapidly turning into barriers. On the contrary, what was previously considered a burdensome cost to the national economy now can become a factor in generating benefits, including the economic ones. Macroeconomic targets begin to «lose» to fundamental political economic values. In such circumstances, the priority of economic policy becomes not a quantitative economic growth or nominal inflation and unemployment indicators, but a technological «leap» potential. The article problematizes the dominant paradigm of a global socio-economic development and outlines the contours of its alternative. This alternative, according to the authors, is capable to become a conceptual basis for global leadership in the 21st century.

References:

1. Who Cares Wins, 2004–08: Issue Brief. International Finance Corporation, available at: https://documents1.worldbank.org/curated/en/444801491483640669/ pdf/113850-BRI-IFC-Breif-whocares-PUBLIC.pdf

2. Arkhipova I., et al. Kak izmenilas’ ESG-povestka v novykh usloviyakh [How the ESG Agenda has Changed in the New Conditions]. Strategicheskie proekty. Novosti, 2023, 17 aprelya, available at: https://stratpro.hse.ru/social-policy/news/828220184.html

3. Ageev A.I., Bakhtizin A.R., Makarov V.L., Loginov E.L., Khabriev B.R. Ekonomicheskiy fundament pobedy: strategicheskiy prognoz ustoychivosti ekonomiki Rossii v usloviyakh sanktsionnykh atak [Economic Foundation of Victory: a Strategic Forecast for the Russian Economy Stability in the Face of Sanctions]. Ekonomicheskie strategii, 2023, no 3, pp. 6–15, DOI: https://doi.org/10.33917/es-3.189.2023.6-15

4. Lindsi Grem prizval NATO isklyuchat’ strany s nizkimi voennymi raskhodami [Lindsey Graham Calls on NATO to Exclude Countries with Low Military Spending]. RBK, 2024, 19 fevralya, available at: https://www.rbc.ru/rbcfreenews/65d275019a7947938d431365

5. Belousov E. CNN: Rossiya proizvodit vtroe bol’she boepripasov, chem Zapad mozhet dat’ Ukraine [CNN: Russia Produces Three Times More Ammunition than the West can Give Ukraine]. Kommersant”, 2024, 11 marta, available at: https://www.kommersant.ru/doc/6561870

6. Pol’sha i Vengriya proigrali v sude po isku o mnogomilliardnykh dotatsiyakh ES [Poland and Hungary Lose Court Case over Multi-billion EU Subsidies]. Vedomosti, 2022, 16 fevralya, available at: https://www.vedomosti.ru/politics/news/2022/02/16/909624-polsha-i-vengriya-proigrali-v-sude

7. Remarks by President Biden on Bidenomics (Chicago, IL). The White House, June 28, 2023, available at: https://www.whitehouse.gov/briefing-room/ speeches-remarks/2023/06/28/remarks-by-president-biden-on-bidenomics-chicago-il/

8. Tolkachev S.A. Protivorechiya politicheskoy ekonomii “baydenomiki” [The Contradictions of the Political Economy of “Bidenomics”]. Voprosy politicheskoy ekonomii, 2023, no 4, pp. 55–75.

9. Remarks by National Security Advisor Jake Sullivan on Renewing American Economic Leadership at the Brookings Institution. The White House. April 27, 2024, available at: https://www.whitehouse.gov/briefing-room/speeches-remarks/2023/04/27/remarks-by-national-security-advisor-jake-sullivan-onrenewing-american-economic-leadership-at-the-brookings-institution/

SECOND TRUMP COMBINATORICS: Assassination Attempt. Part II. Geostrategy

DOI: 10.33917/es-5.197.2024.6-13

The article dwells on technology developed and tested in the United States for constructing political future with the help of targeted force actions within the framework of the fuzzy logic of political multi-steps. The failed quasi-assassination attempt on the US presidential candidate Donald Trump on July 13, 2024 is a political combination preempting the civil war. Its goal is to reduce destructiveness of the political clash following the expected and even more dubious than in 2020, Joe Biden’s victory in the 2024 election, which implied incorrect ways of removing Trump from the presidential race. As a result, a bifurcation point in the US political development has been passed: now there is someone to implement a package of unpopular strategic measures to reorganize the US. Essentially, the murky episode of the assassination attempt turned out to be a way out of the political deadlock.

References:

[1] — [8] no 4/2024, p. 25.

9. Loginov E.L. Velichina dobavlennoy stoimosti v eksporte-importe kak vazhneyshiy geoekonomicheskiy faktor pobedy Rossii v torgovo-ekonomicheskoy voyne: Vneshnepoliticheskie interesy Rossii: istoriya i sovremennost’: Sb. materialov XII Vserossiyskoy nauchnoy konferentsii. Samara, 26 aprelya 2024 g. [Added value amount of exports-imports as the most important geo-economic factor of Russia’s victory in the trade and economic war: Foreign policy interests of Russia: history and modernity: Sourcebook of the XII All-Russian scientific conference. Samara, April 26, 2024]. Samara, SAMARAMA, 2024, pp. 122–126.

10. Ageev A.I., Bakhtizin A.R., Makarov V.L., Loginov E.L., Khabriev B.R. Ekonomicheskiy fundament pobedy: strategicheskiy prognoz ustoychivosti ekonomiki Rossii v usloviyakh sanktsionnykh atak [Economic Foundation of Victory: a Strategic Forecast for the Russian Economy Stability in the Face of Sanctions]. Ekonomicheskie strategii, 2023, vol. 25, no 3(189), pp. 6–15, DOI: https://doi.org/10.33917/es-3.189.2023.6-15

11. Ageev A.I., Loginov E.L. Strategicheskaya predopredelennost’ spetsial’nykh voennykh operatsiy v mirovoy supersisteme [Strategic Predetermination of Special Military Operations in the World Supersystem]. Ekonomicheskie strategii, 2023, vol. 25, no 4(190), pp. 6–19, DOI: https://doi.org/10.33917/es-4.190.2023.6-19

12. Loginov E.L., Karoyan K.E., Kosakyan D.L. Podkhody k formirovaniyu universal’noy modeli zarubezhnogo klastera rossiyskikh finansovykh struktur v perspektivnykh zonakh mirovoy ekonomiki [Approaches to forming a universal model of a foreign cluster of Russian financial structures in promising areas of the world economy]. Samoupravlenie, 2019, vol. 2, no 1(114), pp. 88–91.

13. Bakhtizin A.R., Makarov V.L., Loginov E.L., Khabriev B.R., Vu Ts., Vu Z. Gibridnye voyny v makroekonomicheskoy supersisteme XXI veka [Hybrid Wars in the Macroeconomic Supersystem of the XXI Century]. Ekonomicheskie strategii, 2023, vol. 25, no 2(188), pp. 6–23, DOI: https://doi.org/10.33917/es-2.188.2023.6–23

World Off-roading and Global Arbitration

DOI: 10.33917/es-4.196.2024.38-45

Global dynamics can be understood only from the point of a civilizational approach and within the framework of dialectical ontology. We can observe the opposition of multidirectional civilizational leaders represented from the West by the United States and their reflexive accompaniment in favour of a unipolar world on the part of England, as well as a group of satellites. On the East side, they are represented by Russia and forward-looking China, cautious India and wise Iran, some bold candidates for allies in the noble cause of building a multipolar world.

References:

1. Anisimov O.S. Gegel’: myshlenie i razvitie [Hegel: Thought and Development]. Moscow, 2000.

2. Anisimov O.S. Razvitie myshleniya v kommunikatsii i nemetskaya klassicheskaya filosofiya [Development of Thinking in Communication and German Classical Philosophy]. Myshlenie stratega: model’nye syuzhety, vyp. 57, Moscow, 2019.

3. Anisimov O.S. Gegel’ i myslitel’nyy potentsial metodologii [Hegel and Mental Potential of the Methodology]. Vol. 1–2, Moscow, 2023.

4. Marks K., Engel’s F. Sochineniya [Writings]. Vol. 46, part 1, pp. 36–38.

5. Anisimov O.S. Tsivilizatsiya i ee mekhanizmy: stanovlenie i razrushenie [Civilization and Its Mechanisms: Formation and Destruction]. Vol. 1–2, Moscow, 2007.

6. Anisimov O.S. Istoriya i tsivilizatsiya [History and Civilization]. Ucheb. posobie, vol. 1–3, Moscow, 2020.

7. Anisimov O.S. Skhemy i skhematizatsiya: put’ v kul’turu myshleniya [Schemes and Schematization: Path to the Culture of Thinking]. Vol. 1–2, Moscow, 2007.

8. Anisimov O.S. Yazyk. Semantika. Skhemotekhnika [Language. Semantics. Circuit design]. Myshlenie stratega: model’nye syuzhety, vyp. 47, Moscow, 2017.

9. Anisimov O.S. Strategicheskoe upravlenie i gosudarstvennoe myshlenie [Strategic Management and State Thinking]. Moscow, 2006.

10. Anisimov O.S. Strateg [Strategist]. Vol. 1–3, Moscow, 2023.

11. Anisimov O.S. Absolyutnoe myshlenie [Absolute Thinking]. Myshlenie stratega: model’nye syuzhety, vyp. 55, Moscow, 2019.

12. Anisimov O.S. Dokazyvayushchaya analitika i “razumnoe” myshlenie [Evidence-Based Analytics and Smart Thinking]. Myshlenie stratega: model’nye syuzhety, vyp. 70, Moscow, 2021.

13. Anisimov O.S. Ontologiya i logika [Ontology and Logic]. Ucheb. posobie, Moscow, 2020.

14. Anisimov O.S. S chego nachat’ rost umstvennogo potentsiala? [Where to Start Increasing Mental Potential?]. Potentsial, 2023, no 2.

15. Anisimov O.S. Metodologiya na rubezhe vekov (k 50-letiyu MMK) [Methodology at the Turn of the Century (to the 50th anniversary of MMK)]. Moscow, 2004.

16. Shchedrovitskiy G.P. Izbrannye proizvedeniya [Selected Writings]. Moscow,1995.

17. Anisimov O.S. Kul’tura i dukhovnost’ v myshlenii stratega [Culture and Spirituality in the Strategist’s Thinking]. Moscow, 2012.

18. Anisimov O.S. Ideya logiki i mysletekhnika [The Idea of Logic and Thought Technology]. Myshlenie stratega: model’nye syuzhety, vyp. 46. Moscow, 2017.

Aspects of Developing and Testing New Financial Technologies for International Payments

DOI: 10.33917/es-4.196.2024.30-37

The article dwells on the effectiveness of cryptocurrency technologies for international payments. Insufficiency of cryptocurrency resources for solving this problem under sanctions is shown. The author proposes a way to solve the problem by creating an international financial system based on a digital golden gram (abbreviated in English: DiGGram or digram) — a stealth cryptocurrency with an anonymous group stable and a zero-knowledge algorithm. It will be impossible for unfriendly states to track transactions of such currency. Emission of digram will not require mining or electricity consumption. Taxation of foreign trade transactions with digram should be carried out in the same way as taxation of transactions with other currencies. The article proposes an original information technology for the forced unlocking of blocked Eurodollar financial assets and converting them into resources to support the emission of a gold gram for forming financial assets of countries participating in the financial system based on a digital gold gram. The proposed measures will make it possible to unite up to 30 countries subject to sanctions into a new international financial system and create financial resources in the amount of up to 0 billion, of which up to 0 billion can be used to service international payments of the Russian Federation.

References:

1. V TsB prizvali “probovat’ vse” dlya resheniya problemy perevodov za rubezh [The Central Bank urged to “Try Everything” to Solve the Problem of Transfers Abroad]. RBK, Finansy, 2024, 26 iyunya, available at: https://www.rbc.ru/finances/26/06/2024/667c04189a79474a3d678ec2

2. Summarnaya kapitalizatsiya kriptovalyut dostigla 2,4 trln dollarov [Total Capitalization of Cryptocurrencies has Achieved .4 Trillion]. Blockchair, available at: https://blockchair.com/ru/news/summarnaa-kapitalizacia-kriptovalut-dostigla-24-trln-dollarov–d28ebf3e52

3. Kitay, Indiya i Turtsiya stali glavnymi torgovymi partnerami Rossii v 2023 godu [China, India and Türkiye have become Russia’s Main Trading Partners in 2023]. Izvestiya, 2024, 8 aprelya, available at: https://iz.ru/1678604/2024-04-08/kitai-indiia-i-turtciia-stali-glavnymi-torgovymi-partneramirossii-v-2023-godu

4. Valyuta, osnovannaya na odnom gramme zolota [Currency Based on one Gram of Gold]. Dzen. 2023. 10 iyulya. URL: https://dzen.ru/a/ ZKxbgrfr_3KEBIFV

5. Kogda poyavitsya novaya valyuta BRIKS i kak ona povliyaet na rubl’ [When the New BRICS Currency will Appear and How it will Impact the Rouble]. T–Zh. 2024. 18 aprelya. URL: https://journal.tinkoff.ru/news/brics-currency/

6. Yuliya Abdulbarova. Top-7 stran pod sanktsiyami: kak zhivut gosudarstva pod sanktsionnymi ogranicheniyami? [Top 7 Countries under Sanctions: How do States Live under Sanctions?]. LinDEAL. URL: https://lindeal.com/trends/top-7-stran-pod-sankciyami-kak-zhivut-gosudarstva-pod-sankcionnymi-ogranicheniyami

7. Zamorozka aktivov. Traditsii i novye printsipy raboty Zapada s rezervami tret’ikh stran [Asset Freezing. Traditions and New Principles of the West’s Work with Reserves of Third Countries]. Dzen, 2023, 27 dekabrya, available at: https://dzen.ru/a/ZYvtfjnG4kyLlH9F

On Some Obvious and Non-obvious Risks of the Modern Financial System

DOI: 10.33917/es-4.196.2024.18-25

Despite improving economic indicators and revisions towards better forecasts for 2024, systemic threats and risks, which are not always obvious, remain in the global economy. In the article, the author draws attention to a number of new problems and circumstances that are changing financial landscape in the world. In particular, attention is paid to expanding approaches of central banks in new conditions, risks arising from the technological advancement of commercial banks, which requires more careful control to prevent a destabilizing effect on the financial sector as a whole, etc.

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