Putin calls for new financial world order (FT.com)

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more:
http://www.ft.com/cms/s/a77af2ba-177c-11dc-86d1-000b5df10621.html


Putin calls for new financial world order
By Neil Buckley and Catherine Belton in St Petersburg

Published: June 10 2007 19:10 | Last updated: June 10 2007 19:10

Russian president Vladimir Putin called on Sunday for a radical overhaul of the world’s financial and trade institutions to reflect the growing economic power of emerging market countries – including Russia.

Mr Putin said the world needed to create a new international financial architecture to replace an existing model that had become “archaic, undemocratic and unwieldy”.

His apparent challenge to western dominance of the world economic order came at a forum in St Petersburg designed to showcase the country’s economic recovery. Among 6,000 delegates at the biggest business forum ever held in post-Soviet Russia were scores of international chief executives including heads of Deutsche Bank, BP, Royal Dutch Shell, Nestlé, Chevron, Siemens and Coca-Cola.

Business deals worth more than $4bn were signed at the conference – including an order by Aeroflot for Boeing jets – as executives said they were continuing to invest in Russia despite deteriorating relations with the west.

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1. So THAT is why Bush put up an 'appearance' of being at odds with Putin - to give

Putin the cover he needed to make this statement supporting BFEE's longrange goals.