The Multilateral Trading System. The Causes of the Ideological Crisis and Russia’s Posture

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In the global economy one should not opt for the extremes – liberalization or protectionism. Rather, one needs to determine a degree and scale of these processes and pick principal partners. Trade policies are a compromise between the conflicting interests of separate business and political groups. Competition for control over decision-making, which is not confined to championing one’s interests while adopting national legislation, is getting tougher. Policy-making at home and abroad and managing foreign economic affairs complement each other and promote the interests of local business. The latter fosters social well-being and enhances the country’s standing on the market, which in its turn allows them to adjust the rules of the game to their need.