Analyzing the supranational organization of the Russian economy and emerging economies

Abstract

Subject. The article discusses the supranational organization of economies and analyzes the potential of the supranational organization of Russia and emerging economies. Objectives. The study explores an optimal format for the supranational organization of the Russian economy and emerging economies in the multipolar world. Methods. Research is based on the systems approach and methods of cluster and statistical analysis. Results. The article unveils the phenomenon of supranational organization as a result of the transformed world order and transition to the multipolar world. The multipolar world engenders entropy, which can be tackled through the supranational organization. We determined priority countries, functional purposes and efficiency of the supranational organization of the Russian economy and priority economies. BRICS seems to be the most appropriate form of supranational organization for the Russian economy and emerging economies, being led by China and Brazil. China should actively invest in the Russian economy. Russia continues to observe functional priorities with respect to China and Brazil and protects the sovereignty of the national structure and functions. Conclusions and Relevance. The multipolar world engenders entropy, which undermines the stability of the global economy. Supranational organization helps overcome entropy. BRICS is the most appropriate vehicle of supranational organization for the Russian economy and emerging economies, being led by China and Brazil. The findings can be used to discover supranational organizations of the Russian economy and spotlight lines of international cooperation.