European Practice in Ensuring Sustainable Development: Problems and Contradictions

Abstract

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.

Effectiveness of the Portugal 2020 Programme: A Study from the Citizens’ Perspective

“…Regarding the factors that may negatively impact the future of Portugal and the European Union, as predicted, the pandemic of COVID-19 appears in first position. Pointed out as the second factor, Portugal's public indebtedness will grow as the severe global economic crisis coming with the pandemic will further hit countries with structurally weaker economies, corroborating Malakhova et al [13]. These findings are in line with the last EC Eurobarometer [45], where the Portuguese showed great concern about the collateral effects of the pandemic coronavirus on Portugal's economy and their financial situation, besides being totally hopeless in a short-term economic recovery.…”

“…Malakhova et al [13] state that the economic imbalances between the most developed countries (Nordic and North-Western European countries) and the least developed (Southern and Central and Eastern European countries) put the European integration project at risk and hinder the process of convergence between countries. Additionally, they [13] reveal a tendency of the public debt of almost all the southern European countries (including Portugal), which are hardest hit by the global economic crises, to grow.…”

“…Malakhova et al [13] state that the economic imbalances between the most developed countries (Nordic and North-Western European countries) and the least developed (Southern and Central and Eastern European countries) put the European integration project at risk and hinder the process of convergence between countries. Additionally, they [13] reveal a tendency of the public debt of almost all the southern European countries (including Portugal), which are hardest hit by the global economic crises, to grow. Thus, it is important to analyse the impacts of the ESIF on the Portuguese economy; whether these impacts are sustainable over time; the stage of development reached by the country (historically a more vulnerable economy in the European scenario); and how these impacts are perceived by Portuguese citizens-the main focus of our study.…”

Economic Relations Between China and Asean: The Shadow of the South China Sea Issue

“…Since this paper addresses economic relations between countries that are in the shadows of territorial disputes, it is crucial to examine the complex interplay between economics and geopolitics. Economic relations at the international level refer to the interactions and exchanges of goods, services, capital and knowledge between nations (Malakhova et al, 2020;Taras & Ponomarenko, 2022). Meanwhile, geopolitics is concerned with how geography affects politics.…”