|UDC 339.5:341.655||DOI: https://doi.org/10.31617/zt.knute.2019(107)01|
Doctor of Economics, Associate Professor, Head of the World Economy Department of Kyiv National University of Trade and Economics
19, Kyoto str., Kyiv, 02156, Ukraine
applicant for higher education
of Kyiv National University of Trade and Economics
19, Kyoto str., Kyiv, 02156, Ukraine
SANCTIONS IN FOREIGN TRADE
Background. Following the global financial and economic crisis of 2008–2009, the world’s leading economies have rejected the liberal development doctrine and focused on protecting domestic markets from external competition as a result of restrictions and sanctions realization. Taking into consideration that the introduction of sanctions has always been associated with coercion to change the political course of countries – the objects of sanctions, the chosen direction of the research is relevant in the context of the exacerbation of structural problems accumulated in the world trade and economic system.
An analysis of recent research and publications has shown that, despite the existence of some scientific achievements, the question of assessing the impact which enforces trade restrictions between economic entities, located mainly within the territories of the countries subjects to these restrictions, remains unresolved.
The aim is to identify the introduction consequences of restrictions and sanctions on foreign trade between states, on the example of the US and China relations, as well as to assess the impact of Russian sanctions on the Ukrainian economy.
Materials and methods. The complex of complementary methods of scientific research of economic processes and phenomena was used using statistical and analytical materials of the World Bank Group, World Trade Organization, the European Bureau of Statistics, the State Statistics Service of Ukraine, as well as the results of own scientific research.
Results. It is proved that the cooling of trade and economic relations between any partners in the world stage objectively contributes to the rapprochement of the conflicting states with others, and leads to the restrictions occurrence that characterize the formation of trade disputes, trade conflicts, trade wars. Among the most common types of restrictions are sanctions, as an element of a rule of law that establishes unfavorable consequences in case of rule violation of one country and application by a country or group of countries. The main forms of economic sanctions have been identified. It is substantiated that, compared to political conflicts, international economic conflicts are characterized by a much larger number of participants, run contrary to the interests of mutually beneficial participation of countries in the system of international division of labor, and impede receiving benefits and advantages of international trade development.
The peculiarities of the trade war between the USA and the PRC were investigated; it has been determined that it is the USA that is the most harmed by it. The identification of trade wars against Ukrainian producers by Russia was completed.
Conclusion. The investigation of trade wars nature and, accordingly, the imposition of sanctions on these countries’ interactions in the conditions of the existence of global markets for goods and services, deepening the international division of labor and several other global world economy characteristics allows to conclude about the dual nature of the impact of economic sanctions on countries – objects of pressure sanctions, as well as on states that act as sanctions organizers. Thus, despite the sanctions in return, Ukraine continues to import strategically important products from the Russian Federation, this requires additional argumentation of these relations and foresees the need for further thorough researches in this area.
Keywords: international trade, sanctions, restrictions, trade wars.
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