The Eurasian Economic Union: Realities and Challenges

Abstract

Realities and current problems of the Eurasian Economic Union. 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 favorably promotes multilateral mutually beneficial business contacts, and on the other hand, 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 the ruble and the dumping prices in Russia, which in turn all have a negative impact on the competitiveness of the economies of Kazakhstan and Belarus. DOI: 10.5901/mjss.2015.v6n4s3p664