Priority Vectors of Regional Economic Integration in the Contemporary World Order
Authors:   Lomonosov Moscow State University, Molchanov I.N. , Molchanova N.P. ,   Lomonosov Moscow State University
Published: March 2024

. In the changing geopolitical reality, fragmentation of the economic space is taking place, and favorable opportunities are being created for the formation and strengthening of integration associations of states in different regions of the world. The subject of the study is the features of integration processes in transforming foreign economic conditions (using the example of the EAEU). The relevance of the study is due to the new geopolitical situation in the world, which exacerbates the need to find ways to improve international economic relations by intensifying the activities of interstate integration associations (unions) of friendly countries. The basis of the «core» of the new (integral) world economic order are China and India. Based on an analysis of the development of the situation on a global scale, a conclusion has been formulated about the emergence of new trends in international economic relations. The fact of the destruction of Russia’s economic ties with a number of developed Western countries, which were based on the interests of the largest business elites and had been functioning smoothly for several decades, has been established. The timeliness and progressiveness of the creation and active functioning of new integration unions of partner countries in the economic space of the globe has been proven. The basic conditions for the development of interstate cooperation: the scale of the economy, the growth of its complexity and connectivity, as well as its leading incentive – increasing public welfare – have been determined. The positive role of the association of EAEU member states operating in the Eurasian space and its place in strengthening regional international integration is substantiated. The increasing influence of the consensus positions of sovereign countries in pursuing responsible economic and financial policies is shown. The timeliness of making agreed decisions on mutually beneficial terms by friendly countries for the long term is being proven. Examples of accumulated invaluable experience of mutual assistance in the political and economic fields of interstate cooperation are presented. Conclusions about the advisability of intensifying activities to prepare for the transition of economic and financial relations of the EAEU member countries and other international integration associations to a new technological structure have been made. Recommendations on the advisability of forming a common vision among partner countries of objective trends in the dynamically changing reality in international economics and finance have been formulated. It would be advisable to focus further regional economic research on a more detailed study of the process of fragmentation of the world economic space and building prospects for international interaction in the future based on the application of system analysis methodology. This approach opens up opportunities for innovation in the financial and economic sphere and deepening integration processes between states from different regions of the world on the basis of partnerships and versatile mutually beneficial cooperation.