World needs ‘fundamentally new development model’
– Putin
The global system must pivot away from neocolonialism, which enabled the ‘golden billion’to siphon resources for the elites, the Russian president says
The world needs a new development model that is not based on the principles of neocolonialism
and is resilient to political manipulation, Russian President Vladimir Putin has said.
Speaking on Friday at a plenary session of the St. Petersburg International Economic Forum,
Putin stated that throughout the past several decades, the so-called ‘golden billion’ has been pumping
out resources from other nations to benefit the interests of a narrow circle of elites.
He pointed to the example of the US, saying the country’s “super incomes” never actually reached ordinary citizens
or the middle class.
Friday, June 20, 2025
LIVE: Russia’s Putin Delivers Keynote Speech at St. Petersburg Economic ...
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