In These New Times

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Posts Tagged ‘The 22nd St. Petersburg International Economic Forum (SPIE’

World leaders call for trust economy at Russian economic forum

Posted by seumasach on May 27, 2018

As US-led globalization degenerates into a cacophony of, hopefully, idle threats and the generalized incoherence that flows from internal division, the 22nd St. Petersburg International Economic Forum (SPIEF) shows that globalization itself is not dead. As a multipolar project led by China we can hope to see a constructive globalization process subject to new forms of global governance. The key issue of the moment is the joining of this process by Europe and the related question of the replacement of the dollar as the standard means of international payment. Consciously or unconsciously, Trump has played the role of facilitator of this process which is now unfolding at breathtaking speed leaving so many lagging behind, most especially the Western intelligentsia which has never really got beyond liberal imperialism and has certainly never caught on to the idea of a multipolar world, to the idea of the equality of nations.


26th May, 2018

The 22nd St. Petersburg International Economic Forum (SPIEF) concluded a plenary session Friday as world leaders gathered here to discuss pressing economic challenges.

Held under the theme “Building a Trust Economy” this year, the forum, often referred to as Russia’s Davos, attracted some 15,000 participants from 70 countries to Russia’s “northern capital” and second largest city.

The leaders noted that there are alarming trends that might compromise economic growth, including rising protectionism and unilateralism, the spiral of sanctions and risks from radical technology transformation.

Recognizing the need for a concerted effort in response, they called on countries to enhance mutual trust, remove trade barriers and boost bilateral and multilateral cooperation to drive forward global growth.

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