Development of World Trade in the Context of the COVID-19 Pandemic: A Case Study on the Czech Republic and the Russian Federation

Description

This book examines the development of world trade during the COVID-19 pandemic, also taking international trade between the Czech Republic and the Russian Federation into account as a case study. Using an advanced method of artificial neural networks, it evaluates a long time series and predicts the development of trade between the two countries. The book further analyzes the specifications of export items on both sides and the dependence of the Czech Republic on Russia in terms of raw materials, which is not sustainable. It discusses the need for a political and business consensus, as well as a long-term investment plan to address this issue. Finally, it sheds light on the Czech companies actively operating in Russia, especially in the engineering, automotive, energy, and food industry. The book predicts the future bilateral trade relations between the two countries and the expected decrease in the demand on the side of Russian customers. The book will appeal to students, scholars, and researchers of economics and finance in general, macro- and microeconomics, statistics, and trade analytics in particular, as well as professionals and international trade companies interested in a better understanding of world trade developments and the future trade scenarios between the Czech Republic and Russia. Contents List of Abbreviations List of Figures List of Tables Chapter 1: Introduction Chapter 2: World Trade Development 2.1 History 2.2 Development of the International Trade Theory 2.2.1 Mercantilism 2.2.2 Traditional Political Economy 2.2.3 Neoclassical Economics 2.3 Current Trends in International Trade 2.3.1 Development of International Trade in Goods 2.3.2 Development of International Trade in Services 2.4 Chosen Leaders in the International Trade Sphere 2.4.1 China 2.4.2 The United States 2.4.3 Germany 2.5 Literature Research Focused on the World Trade References Chapter 3: Development of the World Trade in the Context of the COVID-19 Pandemics 3.1 International Trade in the COVID-19 Era: Theoretical Viewpoint 3.1.1 COVID-19 Burden in Exporting Countries 3.1.2 COVID-19 Burden in Importing Countries 3.1.3 COVID-19 Burden in Neighbouring Countries 3.2 International Trade Impacted by COVID-19 in Numbers 3.3 International Trade Restrictions Connected with COVID-19 3.4 Specific Examples of Surveys on World Trade Issues Connected with COVID-19 3.5 Development of Trade After the COVID-19 Pandemic References Chapter 4: Development of International Trade Between the Czech Republic and the Russian Federation 4.1 Impacts of Russian Invasion of Ukraine on Global Trade 4.2 Impacts of Invading Ukraine on Czech-Russian Business Relationships References Chapter 5: Methodology References Chapter 6: Data Evaluation: Results 6.1 Balance 1a 6.2 Balance 1a Prediction 6.3 Balance 3a 6.4 Balance 6a 6.5 Balance 12a 6.6 Export 1a 6.7 Export 3a 6.8 Export 6a 6.9 Export 12a 6.10 Import 1a 6.11 Import 3a 6.12 Import 6a 6.13 Import 12a 6.14 Balance 1b 6.15 Balance 3b 6.16 Balance 6b 6.17 Balance 12b 6.18 Export 1b 6.19 Export 3b 6.20 Export 6b 6.21 Export 12b 6.22 Import 1b 6.23 Import 3b 6.24 Import 6b 6.25 Import 12b Chapter 7: Conclusion