ST. PETERSBURG, June 5. /TASS/. The global development model, created over decades and presented by the West as universal and neutral, was, in fact, a deliberately designed system for draining resources and creating dependence, Russian President Vladimir Putin stated at the plenary session of the St. Petersburg International Economic Forum (SPIEF).
"For decades, the global development model was built around a limited number of financial centers, technological solutions, insurance and logistics hubs, rating agencies, and reserve currencies. This structure was presented as universal, as ostensibly suitable for everyone, and, most importantly, as ostensibly neutral. In other words, it was, in essence, a deliberately created system of dependence or resource drain," the Russian leader said.
Putin also noted that, in practice, this mechanism often functioned as a tool of pressure. "In reality, it [the Western system] has increasingly been used as a tool of political pressure and unfair competition, where payments, technology, logistics, or even access to information can be cut off in an instant to punish those who decide to act in their own national interests," Putin stated.
"Today, the overwhelming majority of countries see this. Entrepreneurs, banks, industrial companies, farmers, and carriers see it. It has become clear that investment plans and business development steps can face serious risks. The risks that the external infrastructure they rely on can be used against them," Putin stated.
"Therefore, states are beginning to develop their own technological solutions, create their own supply routes, and their own institutions," the Russian leader concluded.