Аннотация:International economic developments are driven by two conflicting trends: globalization and localization with rising protectionism in many global regions and nations. Russian economy seems to be well globalized and integrated into the world economy. But it is still composed mostly of mineral fuels, oils, distillation products (48%), commodities (15%) with the sign of economic nationalism and state capitalism in the growing degree of direct and indirect state participation in the economy, rising from 35% in 2005 to approximately 70% in 2015. During the last 15 years the model of state capitalism, combined with a significant level of world integration, supported economic growth, development, and even rising competitiveness of Russia. On the other hand, the Russian economy is slowing down and balances between stagnation and recession, and a significant share of state-owned economy in the long run can lead to slowing down the internal competition and innovation.