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Eastern Economic Forum

Putin outlines how US leveraged WWII to increase dollar's power

"The main point is that the currency of a country reflects the economic power of the state," the Russian leader noted

VLADIVOSTOK, September 5. /TASS/. Washington successfully leveraged World War II to expand the influence of the dollar, Russian President Vladimir Putin said speaking at the plenary session of the Eastern Economic Forum.

"The United States, naturally, took advantage of the results of World War II in the economy and implemented the Marshall Plan. There, for Europe, they created a single global system, the Bretton Woods system. Then, of course, they tinkered with it a bit. They created a single world currency - the dollar. This depended and still depends - let me repeat this - on the strength of the country's economy," Putin said.

"The main point is that the currency of a country reflects the economic power of the state. The larger this economy is, the more partners it has, the more in demand is the national currency of this or that country in settlements. Naturally, you see that when a specific economy has many partners, there is a need to use the currency of this country. Therefore, the use of the currency of a particular country depends on the role of its economy in the world," Putin added.

The Eastern Economic Forum is underway on the campus of the Far Eastern Federal University in Vladivostok on September 3-6, 2024. The main theme of the EEF this year is ‘Far East 2030. Combining strengths to create new potential’. The Roscongress Foundation is the Forum’s organizer. TASS is the general information partner of the EEF.

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