Production of goods which are in high demand will help Armenia reduce impact of trade wars on its economy
21.08.2018,
15:07
Production and marketing of goods which are in demand in the world market will help Armenia reduce the negative impact of trade wars on its economy, an economic researcher at the Caucasus Institute in Yerevan, Hrant Mikaelyan, told ARKA news agency.
YEREVAN, August 21. /ARKA/. Production and marketing of goods which are in demand in the world market will help Armenia reduce the negative impact of trade wars on its economy, an economic researcher at the Caucasus Institute in Yerevan, Hrant Mikaelyan, told ARKA news agency.
He said trade wars are being initiated by the US president and there are several opinions about why he does so. One argues that he wants to undermine the globalization process or improve the US trade balance, Mikaelyan said.
In recent months, the US imposed sanctions on Russia, Iran and Turkey, and imposed duties on import of goods from China, Europe and a number of other countries. According to Mikaelyan, despite the fact that trade wars are fought between major players, they can become a problem for counties like Armenia as well.
The problem is that some trading partners of Armenia impose sanctions against others. Moreover, they can also affect companies which cooperate with countries and companies that come under sanctions, for example, Iran.
Mikaelyan said that the solution of problems in such conditions depends on the adopted economic model. "If goods which are in demand in the world market are produced in Armenia, which is currently a big problem, then these wars will have less negative impact on its economy," he said. -0-
He said trade wars are being initiated by the US president and there are several opinions about why he does so. One argues that he wants to undermine the globalization process or improve the US trade balance, Mikaelyan said.
In recent months, the US imposed sanctions on Russia, Iran and Turkey, and imposed duties on import of goods from China, Europe and a number of other countries. According to Mikaelyan, despite the fact that trade wars are fought between major players, they can become a problem for counties like Armenia as well.
The problem is that some trading partners of Armenia impose sanctions against others. Moreover, they can also affect companies which cooperate with countries and companies that come under sanctions, for example, Iran.
Mikaelyan said that the solution of problems in such conditions depends on the adopted economic model. "If goods which are in demand in the world market are produced in Armenia, which is currently a big problem, then these wars will have less negative impact on its economy," he said. -0-
