Post by Steve Gardner on Jun 7, 2008 23:10:46 GMT
Medvedev is spot on, of course - there is a big (and growing) gap between where the US needs to be and where it is.
It'll be interesting to see how Russia try to exploit the US's weakness. It'll also be interesting to see how Russia responds should Israel attack Iran. If Iran retalliates and the US wades in, as it inevitably will, Russia would have a dilemma.
Source and full article: Al Jazeera
It'll be interesting to see how Russia try to exploit the US's weakness. It'll also be interesting to see how Russia responds should Israel attack Iran. If Iran retalliates and the US wades in, as it inevitably will, Russia would have a dilemma.
Source and full article: Al Jazeera
Russia new president has used his first major speech since taking power in May to blame the United States for the global financial downturn.
"It is precisely the gap between the United States's formal role in the world economy and its real capabilities that was one of the key reasons for the current crisis," Dmitry Medvedev said on Saturday.
Speaking to major international firms at the St Petersburg International Economic Forum, he said that globalisation was an inevitability but that the world lacked investment assets because of disappointment with the US dollar.
"The world is global by nature. Mistakes made by individual countries ... will affect the economy at large," he said.
"No matter how big the American market and no matter how strong the American financial system, they are incapable of substituting for global commodity and financial markets," he said.
