This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/462863-putin-brics-global-economy/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Transnational corps need regulation, attempts to destroy WTO unacceptable – Putin to BRICS leaders | Transnational corps need regulation, attempts to destroy WTO unacceptable – Putin to BRICS leaders |
| (32 minutes later) | |
| Russian President Vladimir Putin has spoken of the global economic situation and how the BRICS major emerging economies can join their forces to ensure it transforms into a more stable and fair model. | Russian President Vladimir Putin has spoken of the global economic situation and how the BRICS major emerging economies can join their forces to ensure it transforms into a more stable and fair model. |
| “The situation in the global economy is disturbing. It is symptomatic that international trade is no longer the engine of economic growth and is experiencing an increasingly heavy burden of protectionism, politically motivated restrictions and barriers,” Putin told the leaders of Brazil, India, China and South Africa, who were gathered for the G20 summit in Osaka, Japan. | |
| The Russian leader called on members of the BRICS community to unite to tackle “protectionist” tendencies in world trade and to increasingly use national currencies in international transactions to stabilize any potential instabilities. | |
| The developing economies, Putin said, must take a more “proactive role in forming a fair and sustainable global development model.” | |
| At the same time, clear and understandable rules must be created to regulate transnational corporations in order to avoid the monopolization of markets or access to technologies. Russia, he stressed, considers "any attempts to destroy the WTO or reduce its role" counterproductive as the world slides into trade conflicts. | |
| Chinese leader Xi Jinping and India’s PM Narendra Modi have also slammed the protectionist tendencies in global trade and called for reform of the WTO to ensure fair practices and equal rights for all countries. Putin meanwhile noted that member states should also seek to reform the International Monetary Fund in order to increase the influence of developing countries within the organization. | |
| Subscribe to RT newsletter to get stories the mainstream media won’t tell you. |