Igor Makarov Spoke at a Dubai Seminar on the New Global Resource Race

Igor Makarov, Head of the Laboratory for Climate Change Economics, took part in the international seminar "Rethinking Connectivity: New Geography, New Markets, and New Infrastructure" held in Dubai. Igor Makarov spoke at a session devoted to the role of critical metals and minerals in the global economy, highlighting the key challenges currently facing resource-rich countries. 

According to Igor Makarov, the world is on the verge of a new resource race, comparable to the scramble for Africa in the 19th century or the race for Middle Eastern oil in the 20th. This dynamic, he stressed, creates unequal relationships between states: some possess economic and technological power, while others have only natural resources. As a result, natural wealth often becomes a source of dependency rather than development.

Igor Makarov also paid particular attention to how critical metals are defined. He noted that in Western countries, the concept is often framed in the context of the low-carbon transition, while in reality it reflects broader economic and strategic interests. There is no single list of critical metals, he explained, since their “criticality” is determined not by their importance for green development, but by demand levels and the lack of viable substitutes.

A more detailed commentary by Igor Makarov is available on his Telegram channel via the link (in Russian).