Lecture within the framework of the “School for Foreign Affairs Newbie” project of the IPACS Presidential Academy

On April 17^th, 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.”