Russia in Global Economy
March 23, 2012
Speaking at the Russia Investment Forum 2012 in Moscow, Prime Minister Vladimir Putin outlined his government's program to modernize the Russian economy.
As he had already written in several articles for the news media Izvestia and Vedomosti, he pointed out once more that the Russian economy has done remarkably well in the last twelve years when compared to some of the ailing, failing western economies.
Putin especially criticized the European Union and the USA, wondering about their economic policies. "The eurozone's consolidated sovereign debt is equal to nearly 90 percent of the GDP. Figures differ from country to country 80 - 85 percent, in some countries up 124 percent as in Italy and Greece", he said.
"The US sovereign debt has reached $15.3 trillion, more than the country's GDP. The United States is living on credit."
Because he knew that some US economic experts were sitting in his audience, the Russian Prime Minister politely avoided naming the actual figure of US debt which amounts to a whopping 100 percent of its GDP, a calculation which might have been easily done by the US experts themselves.
Neither did the Russian Prime Minister repeat his famous quote of the USA being "a parasite living off the global economy", which had sent waves of fury and ripples of anxiety through the western world.
In cautiously chosen words, Putin expressed his thoughts about the "current period of turbulence and instability in the global economy" being the inevitable consequence of rapacious, unbridled western capitalism swelled out of proportion, a destructive process for the global economies.
Vladimir Putin must be doing something right because the USA does not want him to become President of the Russian Federation. Whatever the USA does not want will be good for Russia, whatever the USA wants will do harm. It is as simple as that.
No higher mathematics is needed to figure out that Vladimir Putin presents a major obstacle to US world dominance. The three allied countries Russia, China and Iran hold a significant part of the Eurasian landmass, forming a "tall wall against western mischief," as the Iranian media Press TV pointedly formulated.
With Putin as President, the West can expect Russia turning further towards Asia. He already announced that he will continue strengthening ties with the republics of the post-Soviet space and cooperate closely with SCO countries.