On June 13, 2019, at 11:00, the Valdai Discussion Club hosted a seminar devoted to the SPIEF-2019 Plenary Session.
On June 7, Russian President Vladimir Putin participated in the plenary session, the main event of the forum. He shared the podium with the current UN Secretary General, as well as the leaders of China, Bulgaria and Slovakia.
In his speech, the Russian president highlighted the key factors influencing the world economy, from Russia’s point of view. Among them are the following factors: the US is using the dollar as a means of exerting pressure throughout the world, which undermines the credibility of the currency. Global trade has ceased to be the engine of the global economy, and the most up-to-date technology still cannot resolve the matter; commodities such as medicines have become hostage to trade wars. Meanwhile the situation affecting the Chinese company Huawei has exacerbated technological confrontation in the digital sphere.
Turning his attention to Russia, Vladimir Putin noted that over-regulation stifles the development of businesses in the country and stressed that Russia’s development cannot take place outside the global context.
Many of the questions raised at the forum deserve not only closer attention, but also further discussion. Are people ready for changes within the framework of the global economy? What changes are needed in connection with the current barriers to multilateral trade? Should regional institutions be actively involved in the changing global economic order? What is Russia’s strategy in the face of growing trade tensions between China and the United States? Will China adopt a more multilateral approach to build economic alliances, or retain its current focus on bilateral agreements? What should Europeans do? These and other questions will be answered by the participants of the seminar.
Andrei Klepach, Deputy Chairman, Chief Economist of Vnesheconombank of Russia, former Deputy Minister of Economic Development and Trade of Russia (2008-2014);
Alexander Losev, Director General, Sputnik Asset Management.
Yaroslav Lissovolik, programme director of the Valdai Discussion Club.