Puppet Masters
"Balanced international economic relations is not their [US] main goal, but their main strategic goal is curbing the development of China and Russia," the Russian leader told the 'Russia Calling' forum, adding that such an approach is a "deep" mistake that can backfire on the US and undermine its position.
Another reason for Washington's restrictions against its trade war rival, Beijing, is that the Chinese economy has proven to be more effective than the US economy, according to the Russian president. This could be the key factor of the trade war, and not the trade deficit as the US claims.
US policy targeting Russia and China is "unfair competition" and will continue for some time in the future, said Putin. However, this will not stop the growth of the global economy and will not plunge it into recession, according to the Russian president.
"In my opinion, growth rate of the global economy will increase, despite all the problems linked to trade wars, restrictions for political reasons and so on," he told the audience. "The global economy is unlikely to go into recession in the near future even with the trade war between the US and China."
Russia and its largest trade partner, China, have been working to boost mutual trade in their national currencies, the ruble and the yuan. The issue has been repeatedly discussed by the two sides and between the leaders, including during the St. Petersburg Economic Forum (SPIEF) in June.
Putin said that while the volume of bilateral trade in national currencies is still relatively low, it is steadily growing and can grow even faster as both the Russian and Chinese governments are working to boost it.
Reader Comments
That is why laughable quotes from US politicians are nothing more than wishful thinking. Who said "The Russian economy is in tatters" several years ago?
Our biggest problems are caused by the security apparati of the world's governments, playing Game of Thrones with us as cannon fodder while they lie to all civilians and non-civilians alike, so those of us who haven't figured it out are perpetually gaslit, because what we read in the papers and see on the news doesn't line up even remotely with what we see with our eyes and hear when we speak to our communities.
I keep buying stuff, but not like I used to. I used to buy toys, and now I buy tools, so when the SHTF, I have basic tools of survival. Axes, hammers, rope, camping gear. It doesn't even have to be a invasion or attack. It could be the economy, it could be a comet, it could be an earthquake. Eventually it will happen, and I live in WI. Assuming Adapt 2030 is correct, I need to be able to survive the cold. I should probably learn how to make a snare. But I digress.
The people of the USSR didn't think things would go to shit overnight, but they certainly did. The US, like all empires before them, will fall. No idea when it will happen or if it will in my lifetime. But it will, and if I'm around I intend to survive. And the simple fact for me is that I had a premonition when I was a child. It was brief and out of nowhere and I've never forgotten it. I saw balls of fire and ash. I looked at my much older brother and said "Something bad is going to happen in our lifetime." Maybe it already did and I wasn't there? Maybe it hasn't and I will be there. Life is uncertainty, be prepared.
Our responsibility is to rally and lead the whole party and the Chinese people of all ethnic groups in continuing to liberate our way of thinking, carry on reform and opening, further unleash and develop the productive forces, work hard to resolve the difficulties the people face in both work and life, and steadfastly take the road of prosperity for all.
Xi Jinping