S. Yu. Belokonev, P. D. Belitchenko. Application Features of the Multipolarity Concept in Describing the Current State of the World Economy

https://doi.org/10.15507/2413-1407.033.202501.048-062
EDN: https://elibrary.ru/fugaos
УДК / UDC 330.341

Abstract

Introduction. Multipolarity is a model of world order in which the international system of checks and balances prevents national governments from unilaterally redefining the political and territorial status quo or isolating individual countries from the global community. The purpose of the study is to reveal the content of the concept of multipolarity in the discourse of the world economy and to determine the impact of the multipolar environment of international relations on the traditional roles of geo-economic actors in the world economic system.

Materials and Methods. Publications in Russian and foreign periodicals, as well as specialized monographs and reports of international organizations, have been used as sources of information for the research. The concept of multipolarity has been examined in the context of two different approaches to its interpretation: as an inclusive model of the world order and as a revisionist trend in international politics. The paper reveals the prerequisites for the origins of these different interpretations, characterizes the geo-economic aspects of a multipolar world, and proposes methodological approaches for assessing the competitiveness of states and non-governmental actors in these conditions.

Results. One of the key reasons for the growing interest in the concept of multipolarity was the crisis of the multilateral decision-making system in international financial and economic institutions. The accompanying growth of state interference in international market relations has increased the level of uncertainty of real and financial sector companies in their foreign economic activities and compliance with restrictive measures. These processes have actualized the use of methods for analyzing the “influence” and “power” of actors of international relations in the economic context. However, for this purpose they need to be modified taking into account the network nature of interaction of geo-economic actors in the world economic system.

Discussion and Conclusion. The results of the work formed a theoretical basis for future research on the economic manifestations of multipolarity, foreign economic policy of countries, fragmentation of the world economy and financial system. Further modernization of the methodology of geo-economic analytics in the applied aspect, including the identification of channels for influencing the strengths and weaknesses of competing actors, taking into account their co-dependencies with other participants of the network, as well as for determining the boundaries of geo-economic blocks and channels of their conjugation, remains a relevant direction.

Keywords: multipolarity, inclusive world order, multilateral management of global processes, reduction of inter-country inequalities, geo-economic competition, international economic relations, global monetary and financial system

Conflict of interest. The authors declare no conflict of interest.

Funding. The research was conducted with the support of a grant from the Russian Science Foundation No. 24-18-00443 (https://rscf.ru/project/24-18-00443/) Financial University under the Government of the Russian Federation.

Acknowledgements. The authors are grateful to the reviewers and editors of the Russian Journal of Regional Studies for valuable recommendations, comments and advices that helped to improve the quality of the text.

For citation: Belokonev S.Yu., Belitchenko P.D. Application Features of the Multipolarity Concept in Describing the Current State of the World Economy. Russian Journal of Regional Studies. 2025;33(1):48–62. https://doi.org/10.15507/2413-1407.033.202501.048-062

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About the authors:

Sergei Yu. Belokonev, Cand.Sci. (Polit.), Director of the Institute of Global Studies at the Financial University under the Government of the Russian Federation (49/2 Leningradsky Prospekt, Moscow 125167, Russian Federation), Associate Professor of the Chair of Public and Municipal Administration at the State University of Management (99 Ryazansky Prospekt, Moscow 109542, Russian Federation), ORCID: https://orcid.org/0000-0002-8028-7421, Scopus ID: 57203778848, SYUBelokonev@fa.ru
Pavel D. Belitchenko, Graduate Student of the Faculty of International Economic Relations, Intern Researcher at the Institute of Global Studies of the Financial University under the Government of the Russian Federation (49/2 Leningradsky Prospekt, Moscow 125167, Russian Federation), ORCID: https://orcid.org/0000-0001-5682-2036, Researcher ID: GRY-5073-2022, SPIN-code: 2153-9834, pavelbworkmail@gmail.com

Contribution of the authors:

S. Yu. Belokonev ‒ scientific guidance; formulation of the topic; critical analysis of the applicability of fundamental categories from international relations in the context of world economy studies; development of proposals for their adaptation; identification of further geoeconomic research areas.
P. D. Belitchenko ‒ search and analysis of literature on the research topic; identification of key patterns in the perception of the multipolarity concept; justification for the decline of multilateralism in the world monetary and financial system, and formulation of tasks for modernizing its components to enhance the inclusivity of global governance.

Availability of data and materials. The datasets used and/or analyzed during the current study are available from the authors on reasonable request.

The authors have read and approved the final manuscript.

Submitted 23.10.2024; revised 22.01.2025; accepted 14.02.2025.