Russian President Vladimir Putin spoke at the G-20 summit in Argentina about the need to reform the World Trade Organization (WTO). For a number of years, several world leaders have spoken on the same subject, citing similar concerns. Chief among these are the the inability of the by-laws and governing rules of the WTO to keep up with the new global economic reality, a reality which sees the U.S empire in stark decline. As the head of the Russian Ministry of Economy Maxim Oreshkin told reporters, the Russian leader made this statement at the opening of the second working meeting of the G-20 summit, which was devoted to the subject of risks and the current state of the global economy. He stressed that at present the work of the WTO does not reflect current realities. In particular, it is not quite effective in regulating such new trade areas as electronic commerce, trade in services or investments. According to the minister, those present at the meeting supported Putin’s position….
This post originally appeared on SOTT.net