Purpose: The article aims to study the foreign economic relations of the European Union countries and to identify problems and contradictions arising within the integration process. It also suggests approaches in terms of their further cooperation in the light of the growing geo-economic imbalances. Design/Methodology/Approach. In modern conditions, the problem of inequality between developed and developing countries of the European Union significantly affects the prospects for their medium-and long-term cooperation. In addition, the consequences of the first wave of the global crisis (2008-2011) did not allow the countries of the EU South to enter the growth path. On this basis, authors revealed a negative trend for the growth of public debt in almost all countries of the South within the EU, which could lead to destabilization of the entire integration process. As a theoretical and methodological basis, the article utilizes historicallogical, statistical, and comparative analysis, systemic and situational approaches for the study of foreign economic relations between the EU countries. Findings: Four sectoral clusters in the European Union are identified that can use the 'consolidation of sectoral clusters' mechanism in practical terms. As the study shows, these approaches will help smoothing out economic inequality between developed and developing countries of the European Union. Practical implications: Authors are considering the consistent application of horizontal and sectoral (industrial) approaches within the European Union, which will reduce inequality between the partner countries in the integration group. Originality/value. Since economic contradictions lead to the transformation of the integration group in the short and medium term, it is necessary to develop new approaches and mechanisms for foreign economic cooperation between the partner countries.
In modern conditions, the external economic relations between countries of the vanguard and periphery are becoming increasingly controversial and ambiguous. Undoubtedly, the problem of inequality between the mentioned groups of countries has been always acute, and many schools of economics have been working on a solution of this question. This problem has escalated after the first wave of the global economic crisis (2008–2009). Despite everything, countries of the vanguard continue to promote principles of the neoliberal model through international organizations and financial institutions, which turned out to be unviable due to numerous reasons. The article deals with economic and trade relations between countries of the vanguard and periphery within the European Union, problems and controversies of their interaction and provides with a prediction of further development of the integration group. It may definitely be said that the liberalization of the external economic relations between partners has led to the increase of inequality among them, deepening of structural problems in countries of the periphery and to the stifling of their social and economic development. On that basis, the reasons of transformation of the European Union in context of the modern global instability have been outlined, as well as two groups of country outsiders in this association. The article shows that countries of the South and Central and Eastern Europe have found themselves in a financial bondage to the core countries and that their further membership in the EU will lead to even more harmful consequences and to a deep transformation of the whole EU.
Subject. This article discusses the strengthening of political and economic ties between the countries of the Commonwealth of Independent States (CIS). Objectives. The article aims to analyze some selected national measures by CIS country, identify the strengths and weaknesses of the economic cooperation between the CIS countries, and assess their positions in the context of the formation of a multipolar system. Methods. For the study, I used the historical and logical, and scientific abstraction methods. Results. The article presents the results of analysis of the key economic indicators of the CIS countries and states that the structure of industrial products by type of economic activity differs between partner countries significantly. Conclusions. The article concludes that in the context of tightening the sanctions regime, it is necessary to strengthen cooperation ties between the economic entities of the CIS countries.
Purpose: This article aims to study and evaluate the foreign trade relations and marketing interactions of the EU countries, to identify problems and contradictions between partner countries in foreign trade. Design/Methodology/Approach: Foreign trade relations between developed and developing EU countries are becoming increasingly contradictory and complex. On this basis, the authors revealed a modern negative trend. It is the increasing import dependence of Central-Eastern Europe and South countries on foreign companies and organizations. This trend may be resulted in the degradation of key industries in developing EU countries. As a theoretical and methodological basis, authors use historical-logical, statistical and comparative analysis and the method of scientific abstraction. Findings: The proposed mechanism "consolidation of industry clusters" can be applied in the EU. Based on the identified problems and contradictions in the framework of integration, this mechanism will help to smooth out economic inequality between the EU countries. Practical implications: In practice, the authors talk about the consistent application of the foreign economic relations mechanism between countries within the framework of the integration group. This mechanism will allow to focus on the industry specialization of the partner countries in the association and allow the periphery countries to become active participants in the European market. Originality/value: Economic inequality between developed and developing countries of the EU affects foreign trade relations between partner countries, which can lead to the transformation of the integration group in the short and medium term.
Subject. This article considers the foreign economic relations between the member States of the European Union and the industry structure differences in their national economies. Objectives. The article aims to develop principles and approaches to the advancement of foreign economic relations between the European Region countries based on the research of Swedish economist G. Myrdal. Methods. For the study, I used historical, logical, and dialectical approaches, and a scientific abstraction method. Results. Based on the concept of international economic integration proposed by G. Myrdal, the article transforms the principles of economic relations between partner countries. This helps take into account the interests of peripheral countries operating in integration groups dominated by the world's vanguard countries. Conclusions. The proposed principles of foreign economic relations between the countries can help assess regional economic integration from a different perspective. These principles need to be implemented through applying a mechanism of industry cluster consolidation.
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