Valdai Club

Maria Lagutina

Sergei Luzyanin

Philip Levy

Marlene Laruelle

Alexander Lukin

Alla Levchenko

Gallia Lindenstrauss

Grigory Lukyanov

Sergei Lavrenov

Alexander Losev

Russian Federation

Financial expert, Member of Presidium of the Council on Foreign and Defence Policy (SVOP)

Materials

The Yuan as the Leading Foreign Currency in the Russian Market

It is the Chinese yuan that is becoming the most popular “friendly” currency among both Russian entrepreneurs and citizens, who are converting their dollar savings into yuan. Demand growth is trending, and the position of the yuan in the Russian foreign exchange market is strengthening month by month, writes Alexander Losev, financial expert, Member of Presidium of the Council on Foreign and Defence Policy (SVOP).

National Currencies in International Settlements

Geopolitical risks that were unimaginable just a few years back are turning the idea of reliable currencies and global financial centres upside down. The countries that created and controlled the existing global financial system in mid-20th century, receiving global rent or seigniorage in the process, have dealt the most devastating blow to their own system, writes Valdai Club expert Alexander Losev.

Regulating the Unregulated: What Is the Future of Crypto Assets?

If international rules and regulatory practices are not developed and a global regulatory environment does not emerge, then the rapid spread, high value volatility and growing volumes of the crypto market could become a real threat to the stability of the global finance system and create serious problems for regulators and tax authorities in many countries, writes Valdai Club expert Alexander Losev.

The Role of Regionalism After the Coronacrisis

The economic nationalism of a hundred years ago is not possible in the modern world of distributed resources and a single information domain, writes Valdai Club expert Alexander Losev. The existing associations of countries and large regional powers are not able to create autarchies, but they may well unite into large, self-sufficient blocs.

New Monetary and Fiscal Arrangements from the G7 on Countering the Slowdown of the Global Economy

The coronavirus problem has revealed the imbalances in the global economy. If it hadn’t been for the coronavirus something still would have to have been done to deal with the risk of recession.

Risk Aversion or Pivot to Global Crisis

Fears that the spread of the Chinese coronavirus will have a negative impact on the global economy are forcing investors to seek safe havens for their money (precious metals and US Treasury bonds) to limit their losses if markets continue to fall. An overall flight to safety has begun, negatively affecting stock markets, commodity prices and currencies of developing countries.

The Novel Coronavirus, Geopolitics and the World Economy

The risks of the novel coronavirus outbreak becoming a global pandemic are extremely low, but if the spread of the virus becomes uncontrollable, it can negatively influence internal political processes in China itself and lead to the collapse of economies in a number of regions, as well as the emergence of refugees and mass migration, military conflicts, and humanitarian disasters.

Objectives of US Energy Policy in Europe

Washington considers the expansion of cooperation and trade between Russia and Western Europe and Russian influence on its neighbouring countries to be hostile Russian measures taken against Europe, which should be counteracted via economic and military-political means.

Is There a Threat of a New Global Economic Crisis?

The unprecedented debt load of major economies, like the United States, Chinaand the EU is fraught with a disastrous threat for the entire world. This couldlead to a disaster that will by far exceed the Great Depression if deleveragestartsб Valdai Club expert Alexander Losev warns.

The Ghost of Lehman Brothers or The Downfall of Deutsche Bank

Deutsche Bank (DB), one of Germany’s largest banks, has been fighting many problems in recent decades. This has forced the bank’s management to launch a radical restructuring plan, which will run through 2022, that includes exiting its Equities Sales & Trading business, cutting 18,000 jobs, and moving non-core assets to a “bad bank,” a separate unit that will manage and eventually terminate those unwanted holdings.

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