The Issyk-Kul Forum Recorded a Shift in the Global Payments Model
The 8th Kyrgyz-Russian Economic Forum opened in Issyk-Kul on August 5, 2026. The program includes a visiting session of the international expert forum — Primakov Readings. — During the session, experts documented a large-scale reconfiguration of global trade routes and financial channels.
— Why did countries with currencies and resources remain dependent on a single third country for so long? — asked Academician, Professor, and Doctor of Economics Akylbek Japarov. — Today, the situation is changing—over 90% of settlements between Russia and China are conducted in national currencies.
According to the data presented, the fragmentation of the global economy is accelerating the shift away from the previous dollar-based infrastructure. Kyrgyzstan is demonstrating a shift from lengthy discussions to the direct practical implementation of large-scale projects. The country is building the China-Kyrgyzstan-Uzbekistan railway and developing the Kambar-Ata Hydroelectric Power Station-1. At the same time, the speed of management decision-making is becoming an independent economic factor for competitiveness.
The Hidden Vulnerability of Shared Digital and Physical Infrastructure
As evidenced by the forum materials, territorial scale and resources do not guarantee advantages. Changes in quotations and tariff rates are immediately reflected in consumer prices.
— If before, the big fish ate the little fish, today the fast fish eats the slow fish, — stated Akylbek Japarov. — For Kyrgyzstan, the issue of speed has ceased to be a matter of style; it has become a matter of national competitiveness.
Consequently, the global system is exhibiting properties of a nonlinear structure with complex cross-border shocks. Local incidents at EAEU logistics warehouses directly damage suppliers in neighboring countries. Disruptions at oil refineries instantly alter fuel exports and undermine the region's energy supply. In turn, remoteness from the center of the crisis no longer ensures economic security.
Cascading Risks in Cross-Border Supply Chains
Meanwhile, the cascading spread of external shocks disrupts traditional business models. During periods of instability, connecting channels become conduits for global threats.
— Trade routes are being reconfigured, and a new geography of goods and capital flows is emerging, — the economist noted. — But such windows of opportunity have a limited time horizon.
In addition to physical supply chain disruptions, entrepreneurs are facing sharply higher insurance rates. Logistics vulnerabilities reduce the overall resilience of national economies to external influences. Furthermore, the lack of coordination between market participants accelerates negative dynamics.
Institutional Blindness and Regulatory Delays
Continuing their analysis, experts emphasize the presence of profound regulatory contradictions. Physically reducing cargo transportation times is negated by lengthy border checks.
— The effectiveness of the entire supply chain is limited by its slowest and most vulnerable link, — emphasized Akylbek Japarov. — Delivery times can be reduced, but bank payments can take weeks.
According to expert assessments, customs barriers create a hidden institutional vacuum. Financial regulators cannot keep up with the physical speed of commodity flows. Consequently, transaction delays devalue investments in the construction of new highways.
Formation of Joint Institutions for Collective Resilience
According to the final concept, systems with high adaptation speeds win. EAEU countries are forced to diversify payment mechanisms and create strategic reserves.
— In the 21st century, territory and raw materials were considered the main strategic resources. In the 21st century, the state's ability to save time is becoming the main resource, — concluded Akylbek Japarov.
In addition to increasing trade turnover, market participants are developing cross-border insurance and rapid data exchange. Joint institutions transform interdependence into a factor in the collective security of regions.
Text adapted by AI. Should it lack clarity, read the original RU-ver.
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