Challenges and Prospects of Eurasian Integration in a Changing World

Abstract

The purpose of the study is to analyze the impact of the modern transformation of international economic relations on the integration processes in the Eurasian Economic Union. In accordance with the designated goal, the objectives of the study are: 1. to identify current challenges and threats to Eurasian integration; 2. to assess the prospects for further development of the Eurasian Economic Union and the ability of the integration association to withstand these challenges in the new geopolitical realities.Materials and methods of research. In the process of preparing the article, data from international, interregional and national reports, analytical statistical materials, scientific works of Russian and foreign scientists were used. In the course of the work, statistical methods of analysis of economic phenomena were used, methods of logical and system analysis, dynamic, structural analysis of macroeconomic indexes, interregional analysis of data evaluation, as well as tabular methods of visualization of research results were used.Results. The article analyzes some macroeconomic indexes characterizing the current state and development of the economy of the Eurasian Economic Union as a whole and its member- countries. As a result of the conducted research, the main challenges of Eurasian integration were identified and the prospects and ability of the integration association to withstand these challenges in modern geopolitical conditions were assessed.Conclusion. Eurasian integration is a strategic choice for the Russian Federation, which determines one of the most important directions of development of Russia’s foreign policy. The integration process within the framework of the Eurasian Economic Union has traditionally been accompanied by a number of contradictions, which, depending on many factors, may either intensify or weaken with the increase in global challenges and threats. That is why, at present, it is not possible to fully assess the prospects for further development of Eurasian integration. At the same time, despite the high probability of recession in the largest centers of the world economic system, the Eurasian Economic Union turned out to be one of the integration associations capable to some extent of resisting negative trends in world politics and the economy, and the member-countries of the Eurasian Economic Union managed not only to prevent a large-scale economic downturn, but also to ensure macroeconomic stability.