Financial mechanisms of international relations in the era of global transformations and the digital revolution

MGIMO University, Prospect Vernadskogo, 76, 119454 Moscow, Russia

Abstract

Globalization, scientific and technological progress, and the digital revolution lead not only to a change in international relations, but also to the transformation of the financial component of their implementation. New challenges, such as neurotechnology, creating a new community of automated subjects, artificial intelligence, threatening mass unemployment, information in volumes impossible to perceive and process by human brain, consolidation of stratification and inequality, radical changes in human values and uniqueness, cyber threats to both individuals and society as a whole pose challenges that will require unprecedented international cooperation, supported by the development of financial mechanisms and instruments. Otherwise, there is a risk of a “digital divide” with serious consequences for stable growth around the world. The urgency and complexity of the problem is supported by the fact that the past world historical experience knows no such cooperation, as there were no appropriate conditions (changed not only the environment and factors, but also the range of threats that have not been so global). The article presents an analysis of the convergence of the development of international relations and financial instruments and technologies for their implementation based on the level of scientific and technological progress on the example of the stages of historical processes of globalization and the digital revolution. Given the identified trends in the development of financial instruments and technologies of international processes, the article shows that an important challenge for Russia is to establish its own foreign policy priorities and determine its place and role in the financial component of world politics. A new range of emerging financial instruments is shown, the application of which will be a key factor in the development of future public policies.