Turning Back the Clock: Political Rivalry vs Economic Interaction

24 May , 11:00–12:15
The Global Economy in an Era of Change
Valdai Club Session
Congress Centre, Conference Hall D1

Cold War is the most widespread definition of what is going on between Russia and the West now. Strictly speaking, the notion refers to a certain period of the second half of the 20th century, whose political and economic circumstances are impossible to recreate. The spirit of antagonism, the lack of common political projects and the readiness to up the ante in confrontation – something we observe now – are the essence of cold war. But this is not the cold war as we knew it before globalization. The current level of economic interdependence, the number of potential adversaries, and such diversity of actors simply did not exist back then. This makes the overall picture much more complicated and non-linear. The role of means of economic impact is growing and economic wars appear on the agenda. This, in turn, undermines the very idea of globalization. How will the political cold war influence the economy and who can benefit from it? Is not the cold war a tool of rebuilding the world economy along the lines of the America First ideology?

John Defterios, Emerging Markets Editor, CNN

Andrei Bystritsky, Chairman of the Board, Foundation for Development and Support of the Valdai Discussion Club; Professor, National Research University Higher School of Economics
Jim Rogers, Chairman, Rogers Holding Company
Xavier Rolet, Chief Executive Officer, London Stock Exchange Group Plc (2009-2017)
Anton Siluanov, First Deputy Prime Minister of the Russian Federation – Finance Minister of the Russian Federation
Xu Sitao, Chief Economist, Partner, Deloitte, China