The XII World Economic Forum, which took place last week in St. Petersburg, will be remembered for its daring statements made by Russia’s top economic officials. The opening speech made by President Dmitry Medvedev produced a furore.
“Today Russia is a global player. Realizing our responsibility for the fate of the world, we would like to participate in the creation of new rules of the game not because of the notorious imperial ambition, but because of the fact that we have official opportunities and resources,” Medvedev said.
Medvedev’s statement is based on the extremely unfavorable situation in the world economy. According to Medvedev, the economic crisis, which may become the hardest crisis in history, shows that the system of global financial institutes in its current state does not correspond to present-day challenges. There is virtually no international organization where decisions could be developed and made. Global institutes managing international finances are incapable of showing influence on the strategies of financial market members.
Dmitry Medvedev did not hesitate to point out the major initiator of the unfortunate situation. He believes that the formal role of the United States of America in the global economic system does not comply with its real possibilities.
Russia’s president stressed out that Russia was doing everything to let the country avoid possible economic disasters and make it become one of the world’s economic leaders.
“Turning Moscow into a strong world financial center and turning the Russian ruble into one of the leading regional reserve currencies are the key constituents aimed to provide the competitive ability to the national financial system,” Dmitry Medvedev said.
Medvedev has made a timely statement of Russia’s aspiration to become the new economic and political center in the world. The economic isolation of the USA inevitably makes many countries look for new centers of gravity. The concept of building the new economy without America, but with the help of Russia’s growing influence, may seem to be quite alluring to many. The development of USA’s internal economic problems into the global crisis may lead to significant changes in the structure of the world economy. As a result, new centers of gravity may turn out to be successful.
Russia can indeed increase its influence in the world economy if the USA’s role declines due to the developing crisis. On the other hand, it is not clear how strong the crisis will be and how exactly it will affect the USA. Specialists say that there are no reasons for the US economic system to collapse. There is also no evidence to prove that the current crisis will become the hardest crisis in history and the fatal crisis for the USA. Quite on the contrary, analysts say that the economies of developed countries, the USA and the European Union first and foremost, will start to recover next year. In addition, they will be able to avoid the development of the inflation rate.
If these forecasts are true, the USA will obviously preserve its dominating position in the economy of the whole world. The developed and the developing world will be holding on to the US economy as long as it will be possible. It is an open secret that any global changes in the world economic system are accompanied by colossal damage caused to its members.
That is why Dmitry Medvedev’s statements at the XII World Economic forum in St. Petersburg can be described as offensive reconnaissance rather than guidelines to action. In any case, Medvedev’s statements testify to Russia’s obvious progress in international politics.