Fragmentation of World Economy Now Irreversible - Russia’s Representative at IMF
© AP Photo / Andrew HarnikThe logo of the International Monetary Fund is visible on their building, Monday, April 5, 2021, in Washington. The International Monetary Fund is downgrading its forecast for the world economy this year, Tuesday, Jan. 25, 2022© AP Photo / Andrew HarnikSubscribeInternationalIndiaAfricaWASHINGTON (Sputnik) - The use of international trade and the dollar as a weapon by the West makes the fragmentation of the world economy inevitable, Aleksei Mozhin, Executive Director for Russia at the International Monetary Fund (IMF), told Sputnik. "The blatant use by the West as a weapon of international trade, finance, as well as the dollar and the euro itself, makes the fragmentation of the world economy not only inevitable, but also irreversible," Mozhin said. He pointed out that Western representatives at the IMF are trying to avoid this problem, and the leadership of the international organization cannot ignore the pressure that Western participants are exerting on it. A
© AP Photo / Andrew Harnik
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WASHINGTON (Sputnik) - The use of international trade and the dollar as a weapon by the West makes the fragmentation of the world economy inevitable, Aleksei Mozhin, Executive Director for Russia at the International Monetary Fund (IMF), told Sputnik.
"The blatant use by the West as a weapon of international trade, finance, as well as the dollar and the euro itself, makes the fragmentation of the world economy not only inevitable, but also irreversible," Mozhin said.
He pointed out that Western representatives at the IMF are trying to avoid this problem, and the leadership of the international organization cannot ignore the pressure that Western participants are exerting on it. As an example of the fragmentation of the world economy Mozhin mentioned the consequences of Western sanctions introduced against Russia.
"We have learned this lesson, we will never allow ourselves to be so dependent on imports again, at least in the strategic sectors of the economy," Mozhin told Sputnik, adding that the whole world is now aware that globalization is forcing all countries to follow the path of specialization to the detriment of economic diversification and that the process of deglobalization will continue.
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