Adaptation to the Risks of Digitalization: New Survival Trends for States in a Multipolar World

Julia V Ragulina,Oleg V Shabunevich,Vladimir F Ukolov

doi:10.3390/risks9120218

Abstract

The purpose is to study the new survival trends for states in a multipolar world, determine the successfulness of adaptation to the digitalization of different growth poles, and develop the applied recommendations to improve the practice of adaptation to the risks of digitalization of these growth poles. Design/methodology/approach. The authors use the methods of economic statistics: variation analysis, trend analysis, correlation analysis, and regression analysis. Findings. The commonness of strategies of adaptation to the risks of digitalization for different poles of the world economy is substantiated, and two universal mechanisms—talent management and development of science—are found. The originality of this research is due to the consideration of digitalization from a new view—from the positions of setting states at the brink of survival due to the aggressive digital competition and high complexity of ensuring global competition in a quickly changing digital landscape. The uniqueness of this research is due to taking into account the specific features in a multipolar world. The practical implementation of the offered recommendations opens future perspectives for more successful survival trends in a multipolar world and the improvement of their adaptation to risks digitalization by 69.91% in G7 countries (on average) and by 88.40% in BRICS countries (on average).

Highlights

IntroductionThe world development of economic relations is characterized by two key features
At the modern stage, the world development of economic relations is characterized by two key features
The goal of this research consists in studying the new survival trends for states in a multipolar world, finding the successfulness level of adaptation to the digitalization of different growth poles of the modern world economy on the example of G7 and BRICS, showing future perspectives, and developing the applied recommendations to improve the practice of adaptation to the risks of digitalization these growth poles of the world economy given their specifics

Summary

Introduction

The world development of economic relations is characterized by two key features. The first one is connected to digitalization. It is worth noting that growth poles could be developed countries and developing countries (Roy 2019). Due to the emergence of a new growth pole in developing countries in the conditions of the digital economy, for the first time in the modern history of the world economy, we could state that its multipolarity stimulates not the increase but the reduction of countries’ inequalities (Quaye and Mensah 2019) and contributes to the implementation of the Sustainable Development Goals (in particular SDG 10, UN 2021)

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Conclusion