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18 Mar, 13:30

New spiral of economic rivalry widening globally — Putin

Such rules were promoted when these benefited the West, the Russian president noted

MOSCOW, March 18. /TASS/. A new spiral of economic rivalry is widening across the globe, Russian President Vladimir Putin said at the congress of the Russian Union of Industrialists and Entrepreneurs.

"The global competitive struggle has become acute and is obtaining more and more sophisticated and at the same time irreconcilable character. We are literally evidencing how the new spiral of economic rivalry is unwinding. It is even inconvenient to recall in such conditions norms and rules of the World Trade Organization promoted actively by the West a while back," the Russian leader said.

Such rules were promoted when these benefited the West, Putin noted. "Everything started changing at once as soon as they become disadvantageous," the head of state stressed.