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Medvedev points to signs of global trade wars

October 19, 14:25 UTC+3 BRUSSELS

The prime minister said that "we were much wiser" ten yers ago in respect of economic cooperation

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Russia Prime Minister Dmitry Medvedev at the ASEM summit in Brussels

Russia Prime Minister Dmitry Medvedev at the ASEM summit in Brussels

© EPA-EFE/OLIVIER HOSLET

BRUSSELS, October 19. /TASS/. Russia’s Prime Minister Dmitry Medvedev pointed at real signs of trade wars in the world. He was speaking at plenary session of the ASEM summit in Brussels.

"What is most important us that protectionist sentiments have materialized. There are heads of the states at this table, who fully experienced the signs of trade wars. That is the saddest of what is going on now."

"Economic sanctions encroached on the context of international economic cooperation, became a common instrument of political pressure and unfair competition. This is dangerous. Rather than cooperating we are actually weakening our relations," Medvedev said.

"Ten years ago we were much wiser and were ready to withstand the negative consequences of the economic crisis together," he added.

When speaking about the worsening of the situation since 2008, when the financial crisis jolted the world, Medvedev said that the joint global debt had grown several times. He also noted vulnerability of the emerging markets and overall toughening of state monetary policies.

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