GEOSTRATEŠKA SUČELJAVANJA: EKONOMSKE POSLEDICE
GEOSTRATEGIC INTERACTIONS: ECONOMIC CONSEQUENCES

Author(s): Dejan Šoškić
Subject(s): Supranational / Global Economy, International relations/trade, Geopolitics, Russian Aggression against Ukraine
Published by: Finrar d.o.o Banja Luka
Keywords: geopolitics; global inflation; de-dollarization; international trade;
Summary/Abstract: The war in Ukraine and the institutional, trade and financial conflict of the West with Russia that followed has caused and is causing global economic and financial changes unprecedented since the Second World War. The desired outcome of Western sanctions is mostly absent, but the effects of these sanctions and the conflict with Russia are far from final and limited to the conflicting countries or their immediate international environment. The effects of this geostrategic confrontation are already global, with the tendency to permanently change the physiognomy of international trade, the world financial system and the function of world money. This paper aims to briefly present the macroeconomic realities of the modern world and try to explain why Western sanctions against Russia did not produce the expected results. In its second part, this paper discusses with the analysis of the causes and consequences of global inflation and accelerated de-dollarization, both on developed and on developing countries. Finally, the paper gives an overview of the position of the countries of Southeast Europe in these geostrategic confrontations, as well as potential "fine adjustments" of the international position and aspirations of this group of countries in the new and upcoming international political and economic circumstances. What is certain is that the world is rapidly changing and that in the context of the upcoming changes some relatively old economic and financial ideas are being revived, which can, in the context of new global relations, in some form, potentially experience their reincarnation.

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