The global economy is changing due to the behavior of the West – Kommersant

The global economy continues to change primarily due to the fact that the West is destroying the system of financial relations, says Russian President Vladimir Putin. He stated this during a speech at the plenary session of the EEF.

“You and I know well, we see how the global economy has changed and continues to change in recent years, including due to the fact that some countries, primarily Western ones, of course, with their own hands are destroying the system of financial, trade, economic relations, which they themselves created in many ways, built,” said Mr. Putin.

In his opinion, it is important that against this background, “the space for genuine business cooperation between states that do not submit to any external pressure, but follow their own national interests,” is expanding in the world.” Vladimir Putin argues that there are more and more such countries, and they put “at the forefront of their activities” the promotion of their own projects that will bring “direct long-term benefits” to their people.

“A new model of relationships and integration is being born, but not according to Western patterns, for the elite, for the chosen “golden billion,” but for all of humanity, for the entire functioning and developing multipolar world,” Mr. Putin is convinced. He believes that this model is becoming a powerful competitive advantage for the Asia-Pacific region, which also determines its leadership in economic growth rates.

In June, during a speech at SPIEF, Vladimir Putin said, that the Russian economy and management systems turned out to be stronger than the West believed, and “the strategy chosen by both the state and business worked.” He also said that the replacement of transnational corporations that had left the domestic market became a “powerful incentive” for Russian business.

Laura Keffer