Chinese President Xi Jinping and Russian President Vladimir Putin address the main plenary session of the St. Petersburg International Economic Forum (SPIEF).
One of the most important take-aways of this forum is that China-Russia relations have been upgraded to a comprehensive strategic partnership of coordination for a new era. It is absolutely worth while to listen to these two world leaders spelling out their views for the world.
Media information was incredibly scattered, streamed and reported in a style that did not give a good overview to this conference that I believe was of great importance.
Here are the transcripts of both Pres. Putin’s speech and Pres. Xi Jinping’s speech if you prefer to read. Listening to these, the concern about the world as a whole is very clear. Pres. Putin says directly: ” As a first step, we propose, speaking diplomatically, to conduct a kind of demilitarization of the key areas of the global economy and trade ….”
The following is Putin’s answers to a series of questions at a sideline meeting with heads of some of the world’s leading news agencies.
One of the most important comments on Putin in my view, is his statement on the Dollar.
“Deep changes require adaptation of international financial organizations, reconsidering the role of the dollar, which after it became international reserve currency, turned into the tool of pressure of the country of issue on the rest of the world today,” Putin said.
The Russian president added that US actions undermine the advantages created by the Bretton Woods system, thus “trust in the US dollar is falling.”
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