Long Waves and Other Economic Cycles: Navigation Prospects (Bronze medal)

Author: Rumyantseva, Svetlana Yu.
Almanac: Kondratieff waves:The Spectrum of Opinions

At present, the world economy and Russia experience some recession and systemic crisis which indicate the end of the development model which evolved in the world economy after the 1990s: a unipolar world, globalization, and transformation of Russia into a raw material appendage for the West. This model, in fact, was geopolitical and economic essence of the economic development mechanism of the fifth long wave. There are signs of a new world order based on the development of NBIC technologies, on the formation of new centers of geopolitical dominance, the growing clamour for the need for neo-industrialization in Russia, reformatting its development model and bringing its world order closer to the model of a noospheric integrated society which was formed during the fifth long wave in China, Vietnam, and a number of other countries, including Western ones. This requires further research into the economic development mechanism of long waves, their connection with cycles of longer or shorter duration in order to form an adequate policy response to economic and geopolitical challenges and to bring our country's economy out of the developmental dead end.