West’s new ‘shrewd’ form of colonialism creates trade deficits and humanitarian disasters, the Russian leader said
Russian President Vladimir Putin claimed that Western incompetence and dependence upon money-printing for goods and services from poorer countries are real causes of rising inflation and the ongoing food crisis.
The Russian leader, speaking at the St Petersburg International Economic Forum(SPIEF), accused Western leaders for causing a global crises that could expose thousands to malnutrition.
“The ongoing price hike, inflation, problems with food and fuel, gas and energy in general is the result of systemic mistakes in the economic policy of the current US administration and the European bureaucracy,”Putin stated.
To stimulate their economies, the West produced huge amounts of money and then used it to purchase goods from foreign countries.
“They pretty much vacuumed, raked away the global markets. Naturally, nobody cared to think about the interest of other nations, including the poorest of them,”Putin stated. “Those were left with scraps, at astronomical prices.”
Putin stated that the West’s sanctions on Russia and Belarus exacerbated the food crisis. This made it difficult for them to export fertilizers.
“The shortage of fertilizers leads to loss of crop yields, which means the risk of undersupply on the world market will grow. The prices will go even higher, which poses a threat of hunger, first of all in the poorest nations,”He stated. Putin stressed the fact that people living in Washington or Brussels will feel the effects of the coming famine.
Russian President ridiculed the notion that inflation was “Putin’s price hike”As the US government called it. He explained that while the idea may seem flattering for one’s ego, it has no connection to reality.
“This problem did not arise today or in the past three or four months. And it certainly is not Russia’s fault, contrary to what some demagogues say, trying to blame our nation for everything that happens in the world economy,”He stated.
The perpetrators are the ones who “rely on the mechanism of financial emission to buyout, drag in their direction the supply chains,”Putin stated that he did not care about the potential damage to other people.
“In essence, it’s the same predatory colonial policy. But, of course, it exists in a new form, a new edition, more refined and shrewd,”He recommended.