Russian President Dmitry Medvedev on Saturday blamed the US for the world’s current economic woes and put forward Russia’s growing energy power as a possible solution.
Speaking at a meeting of high-powered business executives in Saint Petersburg, Medvedev said the US was behind a global credit crunch and that investment in biofuels had helped cause a world food crisis.
“It is precisely the gap between the US’ formal role in the world economy and its real capabilities that was one of the key reasons for the current crisis,” Medvedev said. “Russia is a global player. We understand our responsibility for the fate of the world and want to participate in forming the rules of the game, not because of so-called imperial ambitions, but because ... we have the resources.”
Medvedev also took a swipe at US enthusiasm for biofuels, saying that while Russia offered global energy security, others “emphasized the production of biofuels — and we’ve seen the results of that.”
US Secretary of Commerce Carlos Gutierrez told reporters at the forum that Medvedev had made “some very powerful statements” but dismissed the president’s comments about a “crisis,” saying there was “a downturn in growth.”
This was Medvedev’s first major economic speech since taking over as Kremlin chief last month after Vladimir Putin’s eight-year presidency and his comments were being closely watched for signs of future economic strategy.
The world’s biggest energy power has been cushioned from the global credit crisis by high oil prices and the conference venue of Saint Petersburg — Russia’s “window on Europe” — allowed Russia to present itself as a pillar of stability.
Medvedev has promised to boost the rule of law, cut down on corruption and ease conditions for small businesses.
The president also said on Saturday he would turn Moscow into a major world financial center and told investors not to be afraid of growing investment by Russian companies abroad, saying it was not “speculative or aggressive.”
Under his predecessor Putin, Russia’s economy expanded steadily on the back of soaring energy export revenues. But international experts say it has recently shown signs of overheating and there is growing concern about risks for foreign investors.
A key issue preoccupying investors at the conference was the future of TNK-BP, a Russian-British oil company riven by infighting between BP and its Russian partners, and also facing tax probes from the authorities.
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
BULLY TACTICS: Beijing has continued its incursions into Taiwan’s airspace even as Xi Jinping talked about Taiwan being part of the Chinese family and nation China should stop its coercion of Taiwan and respect mainstream public opinion in Taiwan about sovereignty if its expression of goodwill is genuine, the Ministry of Foreign Affairs (MOFA) said yesterday. Ministry spokesman Jeff Liu (劉永健) made the comment in response to media queries about a meeting between former president Ma Ying-jeou (馬英九) and Chinese President Xi Jinping (習近平) the previous day. Ma voiced support for the so-called “1992 consensus,” while Xi said that although the two sides of the Taiwan Strait have “different systems,” this does not change the fact that they are “part of the same country,” and that “external
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source