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Economics and finances
ArticleName 2018 results: challenges and contradictions of economic development
ArticleAuthor Adno Yu. L.

Institute of World Economy and International Relations (Moscow, Russia):

Adno Yu. L., Cand. Eng., Leading Researcher, e-mail:


Last year, the world economy basically retained the trends of previous years, while the main risks of global economic development remained the same (increasing likelihood of trade wars, UK exit from the European Union, volatility in oil prices), which could not but aff ect the overall dynamics of the world development. The relevant problems were discussed at the World Economic Forum (IMF), held in Davos in January 2019, the main topic of which was: “Globalization 4.0: in search of global architecture in the age of the 4th industrial revolution”. The author presents the GDP growth rates of various countries for the previous year, the dynamics of steel production and consumption over the past three years, as well as the forecast values for 2019. As for Russia, at present, domestic metallurgy, while maintaining the role of the most important system-forming factor of economic growth, is closely integrated into the world economy and, on the whole, is developing in accordance with world trends. In its further development, Russian companies have stepped up participation in transnationalization processes, acquiring core assets around the world. The introduction of new duties on metals by the American administration did not reach the stated goal - reanimation of the American metallurgy and optimization of the national metal supply system. As the analysis showed, these measures are mainly political and populist.

keywords World economy, global economic development, risks, metallurgy, metal products, import, export

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