Andrei Pelouoosov, head of the Russian delegation, to the Summit of the Economic Cooperation Forum for the Pacific (APEC), said that the next few years will be an ideal stormy period for the global economy.
He added in a press briefing on the sidelines of the event: “Now we have just started to understand the severity of the problems that now appear in the world.
It is that the next few years is a full storm period, because a group of negative trends that have accumulated for a long time will appear during this limited time period “.
According to him, the first trend, the growth of customs protection procedures in global trade and obstructing the rules that were linked to the World Trade Organization, which practically led to the paralysis of the Dispute Settlement Authority.
As for the second factor, “it is the huge debt burden that should have” faded “after the 2009 crisis, but that did not happen. This factor prevents the possibility of a significant increase in interest rates, and the tightening of monetary policy, which are standard tools for suppressing inflation. Because the increase in interest rates It will lead to a sharp increase in the cost of debt service and debt payment, and this may simply lead to a series of bankruptcy cases.
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Pelouoosov said that the third factor that your father’s leaders drew attention to is the factor associated with high prices.
He noted that this process, “began at the end of 2020. Initially, the prices of minerals rose, after which gas prices rose, and then the series continued – a decrease in the production of mineral fertilizers occurred and increased their prices, which can only affect the grain markets.
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All of these factors caused a great turmoil and movement in the markets, and this movement has now become chaotic and non -vague, so investors lose the signs of guidance, which exacerbates the situation.
He said: “Some suggest to solving these huge problems to stop the process of quickly in Ukraine, which will resulted in their belief that prices will be returned to their places.
, Because these are structural and systematic problems, and you must now think about formulating and developing the necessary measures to solve them. Part of the burden of solving these issues is now the responsibility of the United States, which has received leadership and will chair the Asia and Pacific Economic Cooperation Forum in 2023. ”
Source: Novosti.
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