Economist Belyaev called chaebolization a mega-monopoly
The chaebolization of the economy involves the unification of all types of economic activity into one “mega-monopoly,” explained economist Mikhail Belyaev. He explained the significance of this approach in a conversation with Lenta.ru.
“Chaebol is a specific economic structure that was and still is in South Korea. It is a huge structure, controlled by one family or group, an oligarchy, uniting all types of economic activity: financial, production, trade. It is a mega-monopoly, which, as expected, could achieve success in the economy,” Belyaev explained.
According to the economist, the Russian Ministry of Industry and Trade explains the need for chaebolization by economic difficulties and sanctions that make it difficult to obtain capital and sell goods outside the country.
“But, firstly, in addition to the West, we have the East, where we have moved well in terms of sales. Secondly, it is necessary to deal not with the external, but the internal economy, since exports pass through it only tangentially,” said the interlocutor of Lenta.ru.
Earlier, First Deputy Minister of Industry and Trade Vasily Osmakov stated that Russia, in the process of restructuring its national economy, which is associated with Western sanctions and a turn to the East, is gradually moving towards chaebolization.
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