BRICS Business Magazine English Edition No.3(21)
Human, financial and commodity flows in this part of the world are such that many are already talking about the rise of a Pacific civilization that has replaced that of the Atlantic. Although the «decline» and «extinction» of Europe is a separate and very controversial issue, the concentration of intellectual and material resources in the Asia-Pacific region is such that we shouldn’t balk at comparisons with the EU. Most of the fundamental decisions in Russia, both governmental and business, are taken in Moscow, for which the Atlantic is closer and better understood, yet it is hard to dispute the fact that the largest market in the world is no longer there. The Pacific Ocean washes against not only the Asian tigers, but also the USA, Canada and Australia. In other words, the Pacific States influence, and will continue to influence, the world economy more than the Atlantic ones, which means that this clout subsequently spreads to cultural and social norms.
This compels Russia to compare herself with ultra-technological Japan and Korea, not to mention China, which is getting richer every day. Nevertheless, of course, our task is not to catch up and overtake our neighbours, but to ensure continuous development in the region in such as way that money from the capital doesn’t erode or destroy the local institutions or the established system of local relations. The Far East is an area where the competencies, ties and mutual responsibilities «grown» here acquire special importance, where without them it is impossible to create a working programme of transformation. We should not forget that since the epoch of the Russian Empire, the Far East has been a region of perpetual development that has never been fully completed. In all likelihood, nowhere else in the world has a similar experience of «settling» such large and diverse territories; yet we can still take note of some general observations.
The region should be an interesting and convenient place for its residents, not only for foreign investors, so that the development and support of local communities should be based in both large and small projects. The same holds with business and in general private initiative: regulation and conditions for it should stimulate and encourage growth; otherwise, the enterprising Far Easterners will continue to fulfil their potential in Shanghai, Hong Kong or Sydney. Of course, for the go-getters as well as for everyone else, there should be exciting anchor projects with the right conditions in place. You would be hard-pushed to come up with something better and more fitting than education in order to promote development, and while the Far Eastern Federal University campus inspires optimism, this is not enough for such a large region. Linking the region with the rest of the country is critically important, so that its remoteness should remain only in name. Flying to the southern outskirts of China from here is often easier than to Kazan, and this is a problem that the market has yet to address satisfactorily. Moreover, the Far East does not attract enough Russian tourists even thought there are many Koreans, Chinese and Japanese visitors. All of this seems simple and straightforward, but falls into the category of underlying problems, and if no one disputes the strategic importance of the region, it means it is time to do something about them. Then the Far East will be associated with not only the taiga or the ocean, but also with successful people doing worthwhile things.
As China steps up its international expansion to ensure stability and get ready for another breakthrough, its frightened neighbours and competitors, with the US at the forefront, are trying to respond. Beijing’s success would mean a Chinese-style reglobalisation under its leadership, suggests Aleksey Maslov in an article for the BRICS Business Magazine.China
By 2030, most of the world’s poor will live in regions suffering from some form of ‘fragility’, forcing millions to flee their homes. Donors can prepare now by allocating money to address the causes of displacement, rather than focusing disproportionately on the effects.Opinion
Any information, even the most random and useless, can be collected and analyzed, so the Network needs to know everything. And, most likely, to hide from the internet of things at least something in the near future will be quite difficult. As always, this state of фffairs has pros and cons. With the kind permission of the publishing house Verso BRICS Business Magazine publishes the outcome of the technological thinker Adam Greenfield’s «Radical Technology: The Design of Everyday Life».Book
A group of leading economists recently criticized aid to the poor for failing to address poverty’s root causes. But while we wait for politicians to act – and it could be a long wait – it is important to concentrate our spare resources on effective aid that helps poor people lead the best lives they can.Opinion
Faced with Donald Trump’s inward-looking America, Europe must reestablish itself as a true global player, not by attempting to emulate a classic superpower, but rather by consolidating and deploying different types of power. To do so, however, it must address three key weaknesses.Opinion
Global trade data for periods prior to WWII are notoriously incomplete and unreliable. This column describes a new dataset of historical world trade that addresses many of these flaws. The World Trade Historical Database comprises imports and exports for polities beginning in 1800, and also includes international prices for 190 products, freight rates, and exchange rates, where available. Though focused on aggregate trade, the data include information on the composition of trade from numerous sources.Focus
Every business in every industry could benefit from advances in digital connectivity, as the ‘Internet of Things’ allows people to manage assets better and make more fully informed decisions. But to realize the potential of IoT, the world must first reimagine how networks are used.Opinion