Alexei Mugin, the International Monetary Fund’s executive director for Russia, stressed that the Western weaponization of international trade and finance makes the fragmentation of the world economy inevitable and irreversible.
Mugin told the Novosti agency: “The blatant use by the West of international trade and finance, the dollar and the euro as a weapon makes the fragmentation of the world economy not only inevitable, but also irreversible.”
According to the Russian official, the West is trying to get around this problem, and the leadership of the International Monetary Fund cannot help but succumb to pressure from Western countries.
Muzin also cited the effects of sanctions against Russia as an example of the irreversible fragmentation of the global economy. “We have learned this lesson, we will never again allow ourselves to be dependent on imports … You can call this process deglobalization or fragmentation, but it will continue,” he said.
Earlier, the managing director of the International Monetary Fund, Kristalina Georgieva, said that the weakness of the global economy has intensified against the backdrop of the desire of central banks around the world to contain high inflation. She also talked about phasing out the use of the dollar. According to her, the fragmentation of international trade will cost 7% of world GDP.
Source: News