Vladimir Putin, Russian President, claimed that United States of America impose sanctions against China in order to bound its economy, which is more efficient, Russian News Agency reported.
Speaking at the VTB Capital Investment Forum “Russia Calling!” Putin said that “with high degree of certainty, I can say that this is unique process [of Chinese economic development] has led to very good results,” which are actually better than those of other world economies.
“I think that to a major extent, this causes concern of our US friends and explains the restrictions imposed on China,” Putin said. He went on to state that trade restrictions are not the result of the trade balance disparity, but the “race” between economies.
“The fundamental resilience of the Chinese economy is evident,” Putin said. “The world hasn’t seen anything of this kind.”
Putin explained that Russia is now working on increasing the use of Russian and Chinese currencies instead of US dollars. “We are now working very actively on that at the level of finance ministries and central banks,” Putin said. “The amount of transactions in national currencies is currently small, but it is growing. I hope that this amount would increase at a faster pace than the one we have today. We have all grounds to believe that this is what will happen.”
Natalia Veselnitskaya – official website