MOSCOW, February 15. /TASS/. The real challenge for Europe is its inability to compete with the global South rather than a mythical existential threat coming from Russia, Russian businessman Oleg Deripaska said.

"The world has changed dramatically and will continue changing rapidly. The aging West will not be able to compete with the global South, either economically or militarily. This is the major threat to the comfortable live in the Old World. Definitely, not Russia," he wrote on his Telegram channel.

According to Deripaska, it would be useful for Russia to diversify its economic relations and opt for more pragmatic economic cooperation with China, Africa, India, and Latin America rather than continuing interaction with the dominating "wealthy" West.

Given well-balanced strategy, Russia will be able to regain economic growth of 7-8% and win a foothold among the world’s top four economies within ten years after the conflict in Ukraine is ended.