The global economy is facing a threat of a spiraling protectionist measures that can lead to a devastating crisis, Vladimir Putin warned. Nations must find a way to prevent this and establish rules on how the economy should work.
The Russian president spoke out against the growing trend of using unilateral restrictions to achieve economic advantage, as he addressed guests of the St. Petersburg International Economic Forum (SPIEF) on Friday.
The system of multilateral cooperation, which took years to build, is no longer allowed to evolve. It is being broken in a very crude way. Breaking the rules is becoming the new rule, he said. The ability to impose sanctions arbitrarily and with no control fosters a temptation to use such restrictive tools again and again, right and left, in every case, regardless of political loyalty, talks about solidarity, past agreements and long cooperation, he said.
https://www.rt.com/businessThat has to happen one day or another. The big corporations are always working to make more and more profit, if they do not make profit than shareholders start to look for another CEO and that's why the CEO always tries to keep his job by making more profits, there are finite amount of money in the world so sometimes some CEO makes more profit which results with others not making that much profit even lose money compared to previous year, that's why the ones that didn't make money start to be more ruthless in order to profit and push the limits of law to the gray area. There is no way we can stop this right now, world will come to a place where there is just poor people and companies who are trying to make profit. Eventually the system will crack, it can't continue like this forever.