The outlook for the global economy has slightly improved since the WTO’s most recent trade forecast was issued in October of last year but the pace of trade expansion in 2023 is still expected to be subpar, weighed down by the ongoing conflict in Ukraine, stubbornly high inflation, tighter monetary policy and financial uncertainty.
Global trade is slowing as the Ukraine conflict and its consequences have replaced the pandemic as the leading drag on growth.
The Economist Intelligence Unit expects a sharp slowdown in global trade in 2023 due to weakening global economic growth.
After a bumpy year, 2023 could prove to be even more challenging for global goods trade with consumer demand faltering, oversupply returning, and the energy and subsequent inflation crisis persisting. But the supply chain pain is expected to ease and shipping a container will be cheaper
China, being the world’s leading economy, is already today Russia’s largest trading partner. Complementarity of the countries’ economies, the common border, large-scale transport projects, cooperation in key sectors, participation in BRICS and SCO — these and other factors serve as major drivers for all existing and new bilateral initiatives. The potential of these relationships is to a large extent determined by their content and current trends.
The Roscongress Foundation study presents the main areas of cooperation between the Russian Federation and the Republic of Kazakhstan in the economic, humanitarian interaction and in the geopolitical arena.
