Russia’s Integration into the Global Economy: The Route to Geopolitical Harmony

Abstract

In contrast to other chapters in this volume that focus on perceptions (e.g., Russia’s self-image, European and American perceptions of Russia’s transformation), I concentrate on an aspect of Russia’s integration into the global economy which is less perceptible than the often revisited topics of the “politics of energy” – revolving around the country’s role as an exporter of hydrocarbons and metals – and the problems of major foreign strategic investors in Russia which gain media and political attention. Although I touch on these points, and other aspects of Russia’s role in the global economy, those references follow from my main focus on broader trade flows and, above all, capital flows, comprising strategic and portfolio investment, and cross-border lending.