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On April 17th, a lecture was held on the topic “Trade wars and their consequences for the global economy” as part of a special project of the International Cooperation Department of the Institute of Public Administration and Civil Service of the Presidential Academy “School for Foreign Affairs”.

Tatyana Podolskaya, PhD at economic sciences, head of the department of international economic relations of the South Russian Institute of Management, a branch of the Presidential Academy, made a report for the project participants.

During the lecture, the speaker told students about the very concept of “trade wars,” as well as about the tools and mechanisms of influence in trade wars. Then, using specific historical examples, Tatyana Podolskaya showed the consequences of trade wars. She noted:

“China has become the world’s second-largest economy by nominal GDP thanks to domestic economic reforms, the return of Hong Kong, and accession to the WTO. The main motive for joining the WTO is the need for active integration into the world economy and the system of international economic relations. It is interesting that China joined the WTO as a developing country, the status of which provides a member of the organization with several benefits and advantages compared to the standard status of a country with a market economy.”

Students participating in the School for Foreign Affairs Newbie shared their impressions of participating in a lecture on the topic “Trade wars and their consequences for the global economy.”

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Alina Voronchikhina, a 2nd year student in the program “Management of International Projects and Programs”, noted:

“This lecture at the School for Foreign Affairs Newbie touched not only on the topic of trade wars, but also many other issues in the field of international economic relations. The speaker not only talked about theoretical aspects, but also supported the materials with interesting historical examples.”

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Anastasia Belyakova, a 4th year student in the program “Regional Politics and Regional Management”, shared:

“Tatiana Valentinovna’s lecture touched on several areas at once: international relations, the history of economic doctrines. It was interesting to learn how trade wars between specific countries affected the global economy. I am sure that I will use the knowledge gained in my research work.”