Turkey and Russia in a shifting global order: cooperation, conflict and asymmetric interdependence in a turbulent region

The current global political economy is characterised by the intensifying economic interaction of BRICS and 'near BRICS' economies, with emerging powers increasing their influence in neighbouring regions. The growing partnership between Turkey and Russia constitutes a useful case study for examining this transformation, in which Western supremacy and US hegemony are under increasing challenge. Turkish-Russian relations shed light on broader themes in global political economy. First, significant economic interdependence may be generated among states with different political outlooks, in the form of loose regional integration schemes driven by bilateral relations between key states and supporting private actors or interests. Second, growing economic interdependence may coexist with continued political conflict and geopolitical rivalry, as indicated by the Syrian and Ukrainian crises. An important strategy that emerges is the tendency to compartmentalise economic issues and geopolitical rivalries in order to avoid negative spill-over effects. This facilitates the coexistence of extensive competition with deepening cooperation, as reflected in relations in the field of energy.