Valdai Club

The Russian economy remains highly dependent on external factors. It is therefore vitally important to understand any changes in those factors – from the global order and rules of the game to relations with such major world players as the U.S., China, and Japan. Another pressing concern is the vulnerability of the Russian economy – particularly the federal budget and capital flows – to external shocks. The acute shortage of drivers of economic growth necessitates a more effective use of foreign economic policy, including integration projects, as a means for spurring growth.