Russian-Chinese Economic Cooperation in the Concept of Global Digitalization

Abstract

The article is devoted to the analysis of the formation on the territory of Eurasia of an international credit and financial institution, which has some common features with the International Monetary Funds, on the basis of partnership with the participation of China, India, Pakistan, Iran and other countries. This international integration financial and credit institution can become a reality only on the basis of the general global digitalization of the countries that are members of the union. This integral community will remain open to other states. The contradictions that arise during international integration can receive their civilized forms of resolution in the model of the conflict-compromise paradigm. This formulation of the problem of the formation of an international financial and credit institution in the territory of responsibility of the countries of Southeast Asia, Russia, the countries of the Eurasian Economic Union made it possible to finally undermine the position of the US dollar in international settlements. The purpose and objectives of the study are to reveal the global trend in the formation of a new financial and economic reality in the context of increasing activity in the formation of a single digital space, switching to settlements in national currencies and switching to digital currency means of payment in settlements, and in the future, to global reserve digital payment instruments facilities. The object of the study is the regional financial and credit system, which is capable of reducing the risks of losses of foreign exchange funds from the implementation of the hostile sanctions policy of other states, primarily the United States. The subject of the study is the model for creating global means of payment based on digital currency means of payment of countries that are members of the Union of Southeast Asian countries, Russia, as well as other countries wishing to join the Union. The conclusions obtained have scientific and practical value as a result of sufficient verification, provided by the use of modern scientific research methods, including historical and logical, comparative analysis, methods of scientific induction, comparative analysis. The use of a comparative-functional, systematic approach makes it possible to obtain results that have a sufficient evidence-based, methodological basis in the formation of the Eurasian Monetary Fund. The analysis of modern economic and political literature testifies to the recognition of a large theoretical and practical problem regarding the new architecture of economic, financial, and monetary relations within the framework of the proposed future model of the Eurasian Payments Union