This article attempts to answer the question of why the Russian economy has been able to withstand and adapt to the unprecedented sanctions imposed by Western countries, whose economies are many times larger than Russia’s. The authors hypothesize that this is due to the following factors: the nature of the Russian economy, the effectiveness of government and economic actors’ actions in these challenging circumstances, and the global economic system’s response to the sanctions imposed on Russia. To do this, the following parameters were analyzed: the volume of nominal GDP and the value of GDP by PPP, the structure of the national economy (the share of real production of goods in industry, construction, and agriculture), the size of the national debt and the debt burden in the form of payments on the national debt to GDP, the main export flows, and the state of the balance of payments in Russia and the G7 countries. On the basis of the numerous empirical material presented in the article (some of which was first introduced into scientific circulation in Russian publications), the analysis of the features of the Russian economy and its place in the world division of labor, the reaction of the world economic system to numerous illegal sanctions against Russia, the hypothesis expressed by the authors was confirmed.

Opening up holds the key to developing productive forces. It is the only way to steadily advance China’s modernisation drive. Since the launch of reform and opening up in the late 1970s, China has remained firm in its pursuit of opening up for mutual benefit and transformed from a largely closed country to one that is open to the world on all fronts, from a marginalised player in the global economic system to an active participant, and from a follower to a leader in economic globalisation. Practice has proved that reform and opening up have brought about the two miracles of rapid economic growth and enduring social stability in China. Opening up to the outside world provides an inexhaustible momentum for liberating and developing productive forces. At a new historical milestone, it is a major task for China in the new era to give full play to the role of opening up in promoting reform and development, develop new quality productive forces through high standard opening up, and continuously push forward Chinese modernisation to achieve high-quality development. Keywords: Opening Up; New Quality Productive Forces; High-Quality Development; Open World Economy.

Islamic economics has increasingly gained scholarly attention as an alternative economic system amid growing dissatisfaction with conventional capitalist and socialist frameworks. The global economy continues to face persistent challenges such as financial instability, widening income inequality, ethical degradation, and recurrent economic crises, which expose structural weaknesses in dominant economic paradigms. Islamic economics offers a value-based framework grounded in Sharia principles that integrates ethical considerations, social justice, and economic efficiency. This article aims to conceptually review Islamic economics as an alternative economic system through a thematic literature review approach. By systematically synthesizing theoretical and conceptual studies from both classical and contemporary literature, this article identifies core themes that define Islamic economics, including its philosophical foundations, normative principles, institutional mechanisms, and socio-economic objectives. The review highlights how Islamic economics differs fundamentally from conventional systems by emphasizing the prohibition of interest (riba), risk-sharing mechanisms, equitable wealth distribution, and moral accountability. Furthermore, this article discusses the relevance of Islamic economics in addressing modern economic challenges, particularly in developing countries such as Indonesia, where economic inequality and financial exclusion remain significant issues. Secondary data from national institutions indicate a growing role of Islamic financial institutions and halal industries in supporting inclusive economic development. Despite its potential, the literature also reveals several challenges related to conceptual clarity, institutional implementation, and integration within the global economic system. This article contributes to the academic discourse by providing a structured conceptual understanding of Islamic economics and identifying research gaps for future empirical and policy-oriented studies. The findings are expected to serve as a theoretical reference for scholars, policymakers, and practitioners interested in developing alternative, ethical, and sustainable economic systems.

This article focuses on answering the question of whether a new capitalist society is emerging before our eyes, one whose outlines we can already see, though we cannot fully describe it. What kind of society accompanies the global economic system, conventionally referred to here as capitalism 2.0? The article assumes that, just as the industrial revolution was decisive for capitalism 1.0, the digital revolution – still ongoing – is crucial for capitalism 2.0. The answer to the question of the new capitalist society assumes a progressive process of autonomization of capitalism as a technological and economic system, in the sense of diminishing control over it, taking into account the existing patterns of collective action of social actors. In the phase of industrial capitalism, these were primarily social movements and trade unions, whose effectiveness is now visibly declining in societies of the global North.The article draws on three concepts that differ significantly but seem to share a common view of capitalism as an autonomous economic system. Niklas Luhmann draws on his concept of self-direction, autopoiesis: capitalism reproduces itself through its own actions, indifferent to human intentions and actions, which explains capitalism’s ability to evolve independently of political or social control. Alain Touraine employs the concept of financial capitalism and emphasizes the silence of social actors in the face of global economic crises. Much suggests that the social movements he examines have failed to influence the logic of the system in the 21st century, which – as Luhmann would say – operates “by its own codes.” Shoshana Zuboff, in turn, demonstrates the extent of the instrumental power of impersonal corporations, which gradually exclude individual and collective agency, not through ideology or repression, as in totalitarian political systems, but through anticipatory behavioral modification. The article questions the thesis that collective mobilizations of an emancipatory nature, developed during capitalism 1.0, will be effective in the new conditions of capitalism 2.0.

The article examines the legislative and legal regulation of Ukraine’s security in the financial sphere under martial law as a necessary condition for ensuring national security. The study proves that the financial system is the basis of the state’s economic stability, the effectiveness of which depends on strict compliance with the norms of existing financial legislation. Military aggression against Ukraine creates challenges and threats to the state’s economy and the country’s financial management system. In these conditions, violations and non-compliance with financial legislation become a threat due to the increase in cases of tax evasion, corruption, fraud and other financial crimes. During martial law, financial law and order acts as a guarantee of the existence of economic sovereignty and the state’s integration into the global economic system. Economic stability and the ability to provide the appropriate level of social support for the population, defense capability and post-war recovery depend on the country’s ability to keep the entire financial sphere under control. Thus, the legislative regulation of the financial security of the state, as a component of economic security, depends on the elements that affect the provision of national security of Ukraine. Legal security in the financial sphere under martial law becomes especially relevant, since only an effective legislative and legal framework is the basis for the stable functioning of the financial sphere during extraordinary challenges. Analysis of the current situation indicates that legal regulation is currently carried out in conditions of rapid change, which necessitates a rapid response to internal and external threats. In particular, such regulation is necessary in the field of the banking system, budget policy, taxation and the functioning of enterprises, while the state must apply temporary simplified legal mechanisms that can ensure the mobilization of financial resources for the needs of defense and social stability. However, this legal flexibility requires further systematization and regulation to prevent the emergence of legal conflicts in the post-war period.

Historically, the Caucasus region has constituted a critical nexus of trade routes and strategic interests nevertheless, for centuries, persistent political instability and economic isolation have impeded the full realization of its economic potential. The legacy of the Soviet system, coupled with the political disintegration that followed in the post-1990s era, has profoundly shaped the region’s economic structures. In the case of Georgia, the transition from a centrally planned economy to a market-based system introduced substantial challenges, necessitating deep structural adjustments and comprehensive reforms, a process that continues to be of critical relevance and urgency today. At the present stage, despite numerous challenges and obstacles, Georgia is perceived as an economically liberal and investment-attractive country, striving to establish itself as a financial hub within the Black Sea region. The country’s macroeconomic indicators, fiscal policies, and a stable banking sector contribute to its growing and increasingly significant role in both regional markets and the broader international financial system and networks. The present research conducts a comprehensive analysis of Georgia’s role in the economic transformation of the Caucasus region from a historical perspective to the contemporary era. It does systematically explore the fundamental drivers that enabled Georgia to overcome economic crises and progressively integrate into regional and global financial markets. Special focus is placed on the structural reforms undertaken during the 2000s, notably the strengthening of the financial sector, the enhancement of the business climate, the modernization of the banking system, and the negotiation and signing of international trade agreements. The study makes particular emphasis on Georgia’s participation in multilateral economic platforms and its efforts to deepen ties with the European Union, emerging and developed economies of Asia, and global investment markets. Regarding future prospects, the study highlights both the opportunities and challenges facing Georgia. It examines the critical areas necessary for the development of the country’s financial markets, emphasizing the need for deeper economic diversification, the integration of technological innovations, and the enhancement and effective utilization of labor productivity. These measures are essential for Georgia to maintain its competitiveness and to secure a significant and leading position within the global economic system. The paper also underscores the importance of addressing geopolitical risks, as well as challenges related to energy security and state stability, all of which exert a considerable influence on the country’s future economic development. In conclusion, Georgia’s historical trajectory, contemporary accomplishments, and forward-looking strategic planning collectively pave the way for the country to position itself as a leading economic center in the Caucasus region and to expand its influence within both regional and global financial markets.

This study investigates the decline of three major Islamic empires in the 18th century—the Ottoman Sultanate, the Safavid Dynasty, and the Mughal Dynasty—which had previously attained prominence in political, military, and cultural spheres. The research aims to analyze the internal and external factors that led to the political fragmentation of these empires. Adopting a qualitative approach with a historical-comparative method, the study relies on literature-based data, which were analyzed through five stages: heuristics, verification, interpretation, comparison, and historiography. The findings indicate that the decline of these empires resulted from an interplay between internal weaknesses, including leadership crises, succession conflicts, and the decentralization of power, and external pressures stemming from European colonial expansion and transformations in the global economic system. The study concludes that, despite political fragmentation, the cultural and religious legacies of these empires continue to shape the development of the Islamic world in contemporary contexts. The research contributes to a deeper understanding of the transition from cohesive imperial power to fragmented political entities and elucidates broader changes in global dynamics during this period.

Diversified tax policy is a modern tool of platform economics, the mainstream of business process development and industrial efficiency as well as the stabilization factor of the country’s financial system. It affects all the aspects of evolution processes in the country. However, in the context of global challenges and economic system’s transformation there is no unified methodological framework involving both strategic goals of Russia’s development and the features of the innovation economy. The purpose of the study is to introduce an efficient up-to-date econometric model on the major budget-forming taxes and to reveal the prospects of using this model. The article gives the authors’ definition of diversified tax policy as an innovative economic growth driver. It has been justified, that diversification of the tax policy is not only a tool for replenishing the budget, but also the most important element of building effective ecosystem of technological development capable of ensuring adaptation to external challenges and creation of the long-term sustainability of the national economy. To plan the tax policy tools effectively, the authors have built a multi-factor regression econometric model which evaluates the dependence of tax revenues into the consolidated budget from individual taxes and inflation. The study involved the following economic and general scientific methods of scientific cognition: content analysis, system approach, induction, extrapolation, systematization and grouping time series, and factor modeling. These methods made it possible to suggest the econometric model and achieve the goal of the study.

The article examines the impact of the shadow economy on Ukraine’s investment climate and defines the role of state policy in overcoming this phenomenon. The relevance of the study is determined by the fact that the high level of economy shadowing remains one of the key obstacles to attracting foreign investment and integrating Ukraine into the global economic system. The essence of shadow processes, their main factors and consequences for the national economy are defined. It is shown that a high level of shadowing causes a decrease in budget revenues, increases corruption risks, creates unequal competition conditions and deters potential investors, which undermines trust in state institutions. A comparative analysis of the shadow sector scale in Ukraine and other countries was conducted, which made it possible to identify differences in the structure and dynamics of shadowing. The results confirm that Ukraine’s shadow sector remains relatively large compared to European economies, which significantly limits the country’s attractiveness for foreign capital. It is established that the quality of the institutional environment and the effectiveness of public administration play a crucial role in determining the scale of shadow economic activity. The dynamics of the main indicators of the shadow economy in recent years were analyzed, including the level of GDP shadowing, the share of envelope wages, undeclared employment and hidden enterprise incomes. It was found that despite the overall decrease in the shadowing level, certain components of the shadow sector demonstrate negative dynamics or remain at a high level. Possible ways to overcome the shadow economy through digitalization of public administration, improvement of the tax system, implementation of blockchain technology, development of cashless payments, increased business environment transparency and intensification of anti-corruption efforts are outlined. It is substantiated that successful implementation of such strategies can contribute to creating a predictable and stable investment environment. The research results have theoretical and applied significance, as they can serve as a basis for further research on the relationship between shadow economy dynamics, corruption levels and foreign direct investment flows, as well as be used in developing economic policy and anti-corruption strategies in the context of European integration and post-war recovery.

At present, the digital economy is developing rapidly worldwide, and the global economic system is undergoing profound changes. As an important pillar of traditional industries, the transformation and upgrading of the automotive manufacturing industry's supply chain have a profound impact on the reshaping of the global industrial chain. Although China's automotive manufacturing industry has significant advantages in terms of the length of the industrial chain and the degree of technological integration, its position in the global value chain still faces many challenges, such as insufficient international competitiveness of domestic brands, lagging core technological innovation capabilities, and the immaturity of the development of the new energy vehicle field. This study is based on the data of A-share automotive manufacturing enterprises from 2009 to 2022. It employs a two-way fixed effects model for empirical analysis, aiming to comprehensively evaluate the mechanism of the digital economy's impact on the automotive manufacturing supply chain in terms of efficiency improvement, cost optimization, technological innovation, and green sustainable development. At the same time, the differences in supply chain development of enterprises with different property rights and scales under the background of the digital economy were also explored. The aim is to provide solid academic support and practical suggestions for the high-quality development of supply chains in China's automotive manufacturing industry in the digital economy era, and thereby enhance the competitiveness and status of China's automotive manufacturing industry in the global industrial chain.

In the context of globalisation and the growing interdependence of world markets, foreign investment serves as a key driver for the modernisation of agriculture, technological advancement, and the strengthening of external economic relations. For the Kyrgyz Republic, where the agricultural sector traditionally plays a crucial role in ensuring employment, food security, and export capacity, the attraction of long-term foreign capital is of strategic importance. The study aimed to analyse the mechanisms for attracting foreign investment into the agricultural sector of Kyrgyzstan and to assess its impact on enhancing the competitiveness of domestic agri-food products in international markets. Special attention was given to identifying the factors that facilitate or hinder investment activity, as well as to defining priority areas for cooperation with foreign partners. The research employed comparative and structural analysis, methods of economic and statistical modelling, and a review of international best practices in agricultural investment development. This methodological approach allowed the identification of both general trends and specific features of investment dynamics in the Kyrgyz agricultural sector. The analysis revealed that foreign investment contributes to the introduction of modern technologies, the development of processing industries, the improvement of rural infrastructure, and the growth of export potential. However, institutional, legal, and organisational barriers – such as imperfect legislation, bureaucratic procedures, and insufficient investor protection – continue to limit investment inflows. The study proposed a set of measures to improve the investment climate, strengthen the regulatory framework, promote public-private partnerships, and encourage innovative financing mechanisms. The practical significance of the research lies in the potential use of its findings by government bodies, investors, and business entities in developing effective strategies for agricultural modernisation and for integrating the Kyrgyz Republic into the global economic system

The subject of this study is a comprehensive typology of the global cognitive, spiritual, and moral shifts currently influencing the world economic system. The purpose of the study is to identify and classify the prevailing transformations in both individual and collective consciousness and spiritual content that is reflected in economic behavior and growth conditions at the global level. The relevance of this study arises from the necessity to fully incorporate the factors under consideration into the concept of economic development. The author employs the methods of content analysis and inductive research to examine processes encompassing such areas as knowledge, information, responsibility and culture, as well as the method of typological classification. The result of the analysis is to elucidate the mechanisms through which the examined shifts manifest themselves and interact within the global economic system. The novelty of this typology lies in its identification of complex properties and interrelations between cognitive and moral transformations and their underlying drivers, as well as their influence on economic development. The study reveals that each type of change has progressive characteristics, but their processes are uneven across countries and communities and may face problems of ambivalence, which complicates the analysis of feedback loops and their impact on global economic dynamics. Conceptually, this research is important for advancing theories of economic growth, sustainable development, and ethical economics. The author concluded that the suggested typology may be applied in developing policy principles aimed at more effectively harnessing the benefits of the information and knowledge revolution, fostering mutual respect among stakeholders, and promoting sustainable economic development.

This study explores the transnational identities of Koreyin children residing in Sadong, Sangrok-gu, Ansan, Korea. The analysis of the norms and rules embedded in play, as evidenced by the research, is best achieved through the establishment of rapport at childcare centers and active participation in play activities with children at playgrounds. The analysis indicates that the Korean education system does not anticipate academic excellence from Koreyin children. Furthermore, the Koreyin children are cognizant of the precarious and vulnerable economic position of the Koreyin people in South Korea under the global economic system. It is concluded that Koreyin children are subjects with transnational identities that combine the local characteristics of their surroundings to develop their capacities. However, they are also transnational because they are embedded in a global economic order and transnational because they are mass who consume global cultural content.

The world economy is a system that is constantly evolving. Organizations must introduce creative initiatives in a competitive environment and abandon the usual business models to attract consumers. The global COVID-19 pandemic has thrown new challenges to the global economic system, driving it into a rigid survival framework. In such a situation, many organizations felt vulnerable and unable to compete. Others have begun to use innovative resources to retain their customers. The "service economy" concept has powerful potential for creating new opportunities in a crisis.The study aims to assess the Kazakhstani entertainment industry and predict development directions in the context of the global entertainment industry trends against the background of servitization processes. The research subject is the processes of servitization in the entertainment industry. The application of the positive approach resulted in the analysis of secondary information and quantitative research in the form of an online survey using the Google Form platform. When interviewing 60 respondents, non-probability convenience and judgmental sampling were used - the survey-involved students of Kurmangazy Kazakh National Conservatory and Al-Farabi Kazakh National University. The study's limitations are related to the study of show business, including music, cinema, and television. Looking at a broader range of entertainment industries requires more research. The conclusions drawn from the study results illustrate the typical situation for the Kazakhstani entertainment industry

Despite its growing price impacts, climate change has been a relatively overlooked contributor to recent inflationary trends. While global inflationary pressures have been easing since 2023, the global economy remains increasingly more vulnerable to climate-change-driven inflation. This concern has been recently voiced by the European Central Bank, the Bank of England, the Central Bank of Ireland, and the Bank of Canada, among others. Given the supply-side nature of climate-change-driven inflation, the traditional tools of monetary policy, such as higher interest rates, will prove ineffective at controlling it. Fiscal policy measures, such as public-sector-driven productive capacity expansion, as proposed in the Modern Money Theory (MMT) literature, may prove unfeasible from an ecological economics perspective. In the age of rapidly accelerating climate change, a transition to a global degrowth-based economic system may prove the only viable approach to mitigating climate change and the risks of climate-change-driven inflation. While MMT has been commonly associated with growth-oriented public policies and public sector-supported productive capacity expansion, MMT could be effectively utilized as a policy toolkit for a degrowth transition instead, as has been suggested in the degrowth literature

This article provides an indepth analysis of the transformation of the Republic of Korea’s foreign policy in the context of unprecedented global turbulence. By global turbulence, the author understands a complex set of interrelated factors that threaten the stability of the international system and create uncertainty for nation states. The key components of this turbulence are the geopolitical rivalry between the United States and China, manifested in trade wars, tariff barriers, and technological conflicts (particularly in the semiconductor and critical technology industries), as well as issues related to the functioning of the global economic system, such as supply chain instability, the energy crisis, and financial turmoil. The study uses a theoretical model integrating elements of rational choice and neorealism by Kenneth Waltz to explain Seoul’s strategic decisions in an environment of increasing multipolarity and uncertainty. The analysis focuses on the complex relationship between South Korea’s economic prosperity and its geopolitical position, examining the impact of factors such as its close economic interdependence with China and strategic partnership with the United States (taking into account military commitments, technological cooperation, and influence on the regional security architecture). The article makes a significant contribution to understanding the dynamics of South Korean foreign policy in the modern world.

The instrument of special zones has become widespread in the global economic system due to the possibility of giving impetus to export-oriented socio-economic, industrial and innovative development through a kind of gravitational attraction, geospatial concentration and efficient use of limited resources. In this regard, the issue of studying the mechanism of balanced gravitational action, or the geogenesis of special zones, is relevant. The purpose of the article is to provide an gnoseological and methodological justification for the ability of special zones to “gravitationally curve” geoeconomic space through the activation and enhancement of their foreign economic potential. As a result of the study, two vectors of zonal development were identified: enclaved vector, aimed at eliminating identified structural investment barriers in the economy, and integrated vector, associated with the use and expansion of existing resource opportunities in the economy in order to fully realize its potential. The author has substantiated the need to take into account three aspects influencing the functioning of zones as enclaved or integrated economic entities in the practical implementation of the zonal concept. These aspects include, firstly, zonal basic characteristics (spatial localization; infrastructure conditions for development; business configuration; features of socio-cultural planning); secondly, zonal effects (effects of financial ties; influence of foreign factors of production; return on labor resources; transfer of technology and knowledge; cooperation; institutional embeddedness); and thirdly, zonal processes (processes of establishing and breaking ties; generating “external” effects; relocation of economic activity; value creation; structural changes; maintaining growth dynamics). The author has formulated principles for minimizing problems of coordination, internal stability and risk management associated with the transition from enclave to integration geogenesis of special zones. The integration trajectory of zonal geogenesis, according to the author, will allow maintaining gravitational balance from the point of view of preventing extreme states of zones functioning: low spatial influence, on the one hand, and the transformation of a special zone into a “black hole”, on the other.

The development of various types of innovation infrastructure (national, regional, sectoral) is particularly important for sustainable development, competitiveness and economic security in countries in the context of the transition to a new technological order and the digitalization of the economy. Innovation infrastructure supports innovation activity in a country and its regions. This issue is becoming increasingly relevant due to the volatility of the global economic system and the difficult geopolitical situation. The aim of this article is to analyze the features of Kazakhstan’s innovative infrastructure and provide recommendations for its further development. The article examines the essence, types, and elements of innovation infrastructure, based on a theoretical review, proving its importance for the innovative development of the country. It demonstrates the role of «hard» and «soft» infrastructure elements, using the example of international experience, and reveals the benefits of various methods for organizing them. The level of regional diversity in innovative development within Kazakhstan is explored, as well as the characteristics of national, regional, and sector-specific types of innovation infrastructures. A study revealed shortcomings in SEZ operations, and the need for clustering innovation activities was justified. Conclusions were drawn about the benefits and opportunities of existing special economic zones and technology parks for organizing clusters. The recommendations on improving the organization and state support for the long-term development of innovative infrastructure were substantiated for the country.

The article analyzes the new trade wars of 2025, which have become the most important factor in the destabili-zation of the modern global economic and political system. Particular attention is paid to qualitative changes in the nature of trade conflicts, the transition from traditional protectionist measures to strategic restrictions related to issues of national security and technological leadership. The study examines both the economic conse-quences of trade wars (reduction in global trade, reconfiguration of supply chains, decline in foreign direct in-vestment flows) and political ones (the crisis of the World Trade Organization, deepening US-Chinese rivalry, the EU’s desire for strategic autonomy). The study revealed a vicious circle of interaction between economic and political factors, increasing global fragmentation and uncertainty in world trade. As a result of the study, a conclusion was made about the transition of the world economy to a confrontational model of international re-lations.

Abstract In this article, we examine how domestic heating technologies functioned as instruments of spatial reconfiguration and imperial power in twentieth-century Iran. The replacement of the traditional floor-based korsi with portable oil heaters like the Aladdin catalyzed a shift in how domestic space was materially organized. Whereas the heating ecology centered around the korsi unfolded on the ground and resisted Western objects such as sofas, refrigerators, and stoves that needed elevated or upright usage above the floor, the Aladdin enacted a subtle but powerful form of imperialism by reorienting bodies and their spatial modes of habituation toward upright “civilized” living. We argue that this technological shift and spatial elevation enabled the inflow of Western goods into Iranian homes, helping to affix Iran as a semiperipheral state within the global capitalist economic system. Rather than treating materiality as neutral or derivative, this study foregrounds its role as a mediator of social transformation, in which heating technology becomes a vector of governance and spatial elevation a proxy for progress. By centering the home as a site of techno-political encounter, we reveal how imperial rationalities were naturalized through mundane objects within the space of domesticity.