Regionalization of the World Economy: Exploring Collaborative Approaches in Arctic Global Development

Abstract

Due to climate change and the acceleration of the melting of Arctic ice, the Arctic is becoming an object of increasing attention from the world community. This region has huge potential in terms of natural resources, transport routes and scientific research. Key areas of cooperation in the Arctic include among others the development of hydrocarbons, transport routes, scientific research, and sustainable development. Given the increasing regionalization of the international economy, the question of prospects of collaborative programs for the global development of the Arctic is of relevance. Existing international mechanisms of governance and cooperation in the Arctic offer varied advantages and disadvantages, while the approaches of various Arctic countries, including Russia, in the implementation of economic projects in the region are diverse. Analysis of the opportunities and challenges of the joint implementation of a global Arctic development program, as well as the experiences of various countries in this area can become the basis for the development of new approaches and strategies in the field of cooperation between the Arctic countries, as well as for the formation of a more flexible and sustainable system of international regulation in this region.