Vladimir Putin Is Against Upsetting Social Balance In Developing Countries

On Friday Vladimir Putin confirmed Russia's loyalty to economic liberalization but spoke against upsetting the social balance in developing countries. "We advocate serious measures to eliminate 'the numerical gap'. However, we are no less concerned over another gap - between the real and 'virtual' economy, which is fraught with new upheavals," the Russian leader told the participants in the APEC business summit in Shanghai. In his words, Russia advocates "liberalization of economic regimes", but is against a situation where the extinction of whole industries in developing countries and on the so-called 'developing markets' upsets the social balance, leading to the growth of social-economic and political tension in individual parts of the world. Meanwhile, the president went on to say, the financial and consultative assistance being rendered to the countries with "transitional" economies or the countries with "unstable" regimes has its visible costs. There are many reasons for this, said Vladimir Putin, noting that this is first of all, "the formal system of control criteria in rendering assistance and the striving for monopoly control over resources". "Other new economic challenges are also in evidence: such as the need for an early prevention of financial-economic crises and the creation of a system of counteraction to the negative consequences of potential terrorist acts in the currency-financial sphere; the economic consequences of various epidemics, including AIDS; other threats," said the Russian president. In his words, all these problems make us jointly look for ways of settling them, and in connection with this - take a closer look at the APEC experience of cooperation, using it to create "a more reliable and safer world order". Vladimir Putin expressed conviction that a huge potential for forming an additional contour of strength of the world economy exists in the Asia-Pacific region, where large-scale economic migration of nations has been in evidence for many years. Essentially reserve financial, bank, information and technological possibilities have been created and are really working in this region. This is why there are possibilities here for the creation of yet another level of security of the world economy, said Vladimir Putin. "I am absolutely sure that the new century puts on the agenda of the day the issue of designing a new configuration of the Asia-Pacific region, including its energy, transport and information-technological components", said the head of the Russian state.