10 Jun Putin Calls for an Alternative to WTO
I somehow doubt this will go very far, but who knows?
Russian President Vladimir Putin called Sunday for creating an alternative to the World Trade Organization that would favor developing economies and suggested giving a greater role to regional currencies.
Speaking at an economic forum in Russia’s second-largest city of St. Petersburg, Putin lamented that today’s international economic organizations ”look archaic, undemocratic and awkward” by protecting the interests mainly of developed economies.
”Today protectionism which the WTO is intended to fight oftentimes comes from developed economies that set up this structure,” Putin told the conference.
”In order to stimulate trade and investment it is worth thinking about creating a regional Eurasian institute on free trade that could take advantage of the positive experience of WTO,” he said. He did not elaborate.
…and one in which Russia could play a dominant role…