Putin: we Will continue to build economic relations based on equality

PHOTO : Website of the President of the Russian Federation

RUSSIA

Russian President Vladimir Putin in response to the request to name the place of Russia in the global battle for economic superiority quoted Chinese proverb.

“When tigers fight in the valley, smart monkey sits and looks, it will end. But things are changing. And, this picture also changes,” – said the head of state.

This issue was discussed at the plenary session of St Petersburg international economic forum, reports “WORLD 24”.

Vladimir Putin said that at the moment, the main leading economy in the world remains the United States. More recently the country has promoted the ideas of free trade and democracy in the international economic arena.

“Today we see what happens. They are adopting a different practice. I said it in his speech – when there are strong competitors that are all gaining and gaining strength, it seems that such tools are unsuitable for them. In the course are various restrictions, tariff war,” said the President.

Putin stressed that these measures will cause great damage. According to international experts, if current trends don’t change, by 2022 the growth of world GDP will shrink by 2% and world trade by 17%. This can be compared with the indicators of the 2008-2009 crisis.

Business will face great losses, and will suffer as a result, ordinary citizens – will begin to decline jobs that are not will be transferred funds at all budget levels.

“We, of course, against it. Our place is in the struggle for fair and democratic principles of development of international economic relations”, – said Vladimir Putin.

The President noted that relations with China and other countries are developing, despite attempts to prevent it, and the trade turnover is growing. But if such trends like today will continue, “it will be bad for everyone.”

“Of course, we will try to build relations based on equality and on the principles about which I spoke in his speech”, – concluded Putin.

Recall that SPIEF is held in St. Petersburg on June 6-8.

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