Problems and prospects of the Eurasian Economic Union: SWOT analysis

Abstract

In this article the authors examine the impact of integration processes on the competitiveness of national economies of the participating countries of the Eurasian Economic Union (EAEC). Any integration, including integration within the EAEC affects the economy of participants in two ways: on the one hand it favorably promotes multilateral mutually beneficial business contacts, and on the other hand, it feels the strength, competing with each other, the individual national economies. The authors comprehensively investigated the current situation and problems of the EAEC with the use of different methods of political analysis (comparative and system analysis, content analysis, event analysis, SWOT-analysis, and others.). In a sufficiently sharp polemical form, based on credible evidence materials, the article shows not only the integration of interaction, but also features of competition within the EAEC, the causes of conflict, as well as the consequences that resulted in the devaluation of ruble and dumping prices in Russia, which in turn all have a negative impact on competitiveness of the economies of Kazakhstan and Belarus.