In the face of a rapidly blowing-out world monetary system,
which is driving an escalation of war by the Bush-Cheney administration, Russia
and China, knowing the war-drive is actually aimed at them, are escalating a
front continually pushed by the American economist Lyndon LaRouche—the creation
of a new, fair and just economic system which will put people first.
Addressing the St. Petersburg International Economic Forum on June 10th,
Russian President Vladimir Putin diagnosed existing international economic and
financial institutions as non-functional, calling for "a new architecture of
international economic relations" based on mutual benefit, and pushed Russia's
vision of Eurasian economic development, including energy security and
transportation corridors.
Enterprises of China and Russia signed contracts worth some US$2 billion at
the St Petersburg Forum, and will begin building their first international
bridge, linking the far east of Russia to the northeast of China. (Click
here for a full report on the forum.)
Three days earlier, in his speech to a pre-G8 "sideline" event of developing
nations, Chinese President Hu Jintao said that developing countries "should
continue to work for the establishment of a sound international economic order
and foster an enabling financial, trade and energy environment," because
developing nations are facing "mounting challenges" from globalisation, and must
work together to meet these challenges.
On June 10, Venezuelan Finance Minister, Rodrigo Cabezas, commenting on the
founding documents for the new Bank of the South being written now, re-iterated
that the new financing entity, which will replace the IMF for six South American
nations, will reflect a "new type of financial architecture."
See http://www.larouchepac.com/ for
updates of this story.