Economic Archive

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  ON A REVITALIZED, VIBRANT, AND PROSPECTIVE PHENOMENON

  The article comprises four sections – an introductory executive summary; a discussion of the Neo-classical concept of the Great Silk Road in Part One; the response of the USA and the EU in Part Two; and a detailed conclusion. The introduction describes the tectonic shift in the global economic triad (in the past, the present and the future) ... The article comprises four sections – an introductory executive summary; a discussion of the Neo-classical concept of the Great Silk Road in Part One; the response of the USA and the EU in Part Two; and a detailed conclusion. The introduction describes the tectonic shift in the global economic triad (in the past, the present and the future) underlining the dynamic trends in the economic mainstream. Part One presents an analysis of the revival of the Silk Road and its substantiation through the One Belt – One Road initiative and justifies its multi-vector diversification. Part One discusses the negative implications of the Rust Belt in The United States of America. Having failed to undermine China’s initiative, the US launched their Blue Dot Network project whi9le the EU modified the original initiative into a European Silk Road. The extended conclusion reviews the second- and third-level synthesis to define the Belt Economy as an economic trend such as the digital, entrepreneurial, partnership, narrative, etc. types of economy.

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  EUROPEAN CHEMICAL INDUSTRY – CURRENT STATE AND CHALLENGES

  The European chemical industry is one of the major and most important industrial sectors of the Community economy. The present paper aims to present an analysis of its current state and, on this basis, to highlight the main challenges it must address in the coming years. The presentation of the main characteristics of the chemical industry on a ... The European chemical industry is one of the major and most important industrial sectors of the Community economy. The present paper aims to present an analysis of its current state and, on this basis, to highlight the main challenges it must address in the coming years. The presentation of the main characteristics of the chemical industry on a global scale, which gives a clearer idea of the state of the industry as a whole also plays an important role in the study. The following main conclusions are drawn from the analysis made. First, an increase in the share of chemical substances and products in the EU’s total exports and imports, which determines the growing importance of the sector to the European Union. Second, the European chemical industry is still lagging behind China on a global scale due to a variety of reasons, including the country’s industrial policy and sector reforms. Third, in the future, the industry will have to cope with a number of challenges in areas such as the environment, international competitiveness, sustainable development and the circular economy.

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  DEBT SUSTAINABILITY OF EU MEMBER STATES: A CLUSTER ANALYSIS

  The aim of this article is to perform a cluster analysis of the EU member states in terms of their public debt sustainability. To this end, the existing theoretical constructs related to the concept of debt sustainability were reviewed in to determine the advantages and disadvantages of certain indicators for assessing debt sustainability. In the ... The aim of this article is to perform a cluster analysis of the EU member states in terms of their public debt sustainability. To this end, the existing theoretical constructs related to the concept of debt sustainability were reviewed in to determine the advantages and disadvantages of certain indicators for assessing debt sustainability. In the course of the research, the methodological grounds of the analysis were defined and the countries were grouped into four clusters.