Putin claims USA owes 54.3 trillion dollars to world economy
Russian President Vladimir Putin recently spoke at the St. Petersburg International Economic Forum (SPIEF), where he discussed various issues including the Russian economy.
According to Putin, Russia has now become the fourth largest economy in the world in terms of “Purchasing Power Parity” based on World Bank data. However, he emphasized the need to continually strengthen this position as other countries are also progressing.
Putin highlighted the importance of international trade and mentioned plans to increase the use of national currencies in foreign trade agreements for better security and efficiency of transactions.
Despite facing obstacles, Russia continues to play a significant role in world trade, with trade increasing by 60 percent with Asia, 69 percent with Africa, and 42 percent with Latin America. Putin also noted that the US’s share in the global economy is declining, supporting the idea of multipolarity in the global financial system.
Putin criticized the US for abusing its power through the dollar, stating that recent sanctions have undermined global confidence in the currency. He accused the US of making money through exploitation, pointing out that the country owes $54.3 trillion to the world economy. Putin also called out the US for consuming $1 trillion more than it produces annually, labeling it as a form of “new colonialism.”
Overall, Putin’s remarks shed light on Russia’s economic position and its stance on global financial markets, emphasizing the need for balance and fairness in international trade.
