Since today we live in the age of globalization and economies, and financial systems of almost all countries are interconnected, social and economic fluctuations in a country can affect other countries. The U.S.
Russia has one of the most complex geographical positions in the world. The total area of its territory includes 17.125 million square km accounting for nearly one-eighth of the Earth’s land surface and its coastline is the second longest in the world.
As it is well known, the economy of Kazakhstan is highly dependent on extractive industries, which has implications for coordinating fiscal policy. During 2014- 2016, Kazakhstan's oil and gas revenues decreased by almost two thirds.
After the collapse of the Soviet Union, all former Soviet Union countries adopted market economies instead of planned economy. Market economy implies the presence of the private companies, while during the Soviet Union all companies were state-owned.
As one of the main global political and economic actors, the European Union (EU) has a special place in Azerbaijan’s foreign policy, which adheres to a multivector cooperation and partnership. The relationship between the two parties dates back to 1991.
Recent political and economic shifts following the global financial crisis of the last few years triggered further rise of Eurasia, which has become a geopolitical symbol that indicates full transition towards a multipolar world.