Share

Putin says US unilateralism undermines global trade

Share

ST. PETERSBURG, Russia (AP) — Russian President Vladimir Putin has criticized the United States for using pressure and sanctions to maintain its economic supremacy, saying it spawns chaos in global affairs.

Speaking Friday at an investment forum in St. Petersburg, Putin said the U.S. attempt to “spread its jurisdiction to the entire world” challenges the global order.

He said globalization “becomes a parody of itself when common international rules are replaced with laws, administrative and judicial mechanisms of one country or a group of countries.”

Flanked by Chinese President Xi Jinping at the forum’s panel, Putin said the U.S. action against Chinese telecom giant Huawei represented an attempt to “blatantly squeeze it out of the global market.”

It is, he said, “the first technological war of the digital era.”

Putin warned that the “fragmentation of the global economic space, the policy of unrestrained political egoism” paves the way to “endless conflicts and trade wars … fights without rules between all.”

The Russian leader accused the U.S. of turning the dollar into an “instrument of pressure,” undermining trust in the U.S. dollar, the world’s major reserve currency.

He also criticized U.S. attempts to hamper the construction of the Nord Stream 2 pipeline intended to carry Russian natural gas to Germany and further on in Europe, saying it reflects the U.S. desire to win advantages for itself.

Putin hailed Russia-China relations, saying that their cooperation in the global arena is “a major factor of stability in global affairs.”

He emphasized that “we aren’t creating a military union and we aren’t working against anyone,” adding that Moscow remains open to expanding ties with the European Union and the United States.

Xi said Russia and China would coordinate their efforts in the energy sphere more closely.

The Chinese leader noted that the current global trade system needs fine-tuning but spoke strongly against protectionism, warning that globalization can’t be stopped.

Xi said that despite trade disputes between China and the U.S. they are closely interdependent and neither side wants to disrupt ties.

“Neither we, nor our American partners are interested in that,” Xi said. “I’m sure that my friend, President Trump, isn’t interested in that either.”

Related:
Actor Behind Chilling 'Candyman' Villain, Dozens of Other Roles Dead at 69

Trump said Thursday that he’ll make a decision about ramping up tariffs on China after he speaks with Xi at a G-20 summit in Japan this month.

Trump ordered tariffs of up to 25% on hundreds of billions of dollars’ worth of Chinese exports and his administration is preparing to extend them to $300 billion more — almost all items shipped to the U.S. from China. China has reciprocated with tariffs of its own, among other measures.

___

Vladimir Isachenkov reported from Moscow.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →



We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
Share
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
Location
New York City




Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. Advertise Today.

Conversation