Sunday, July 5, 2009
USA is in the midst of economic recession and there is no debate about it. It is the worst economic crisis after the great depression of 1930s. It is now almost certain that the US economy will not be out of the crisis in 2009 IMF predicts Recession hits China harder than India China, Switzerland agree to begin feasibility study on free trade zone
Economic recession hits UK harder than 1930s
Economics remains one of the main topics of the Moscow talks. Russia says international financial institutions need revamping. Along with others countries, it also questions dollar’s role as the world's reserve currency.
The US and Russia are being hit by the global financial crisis in very different ways.
The US has seen recessions before – but none as big as this since the 1930s. For the new Russia – not even 20 years out of communism – this is terra incognita.
Russia-US relations are being restored after significant degradation, President Medvedev told the Italian media, adding that he hopes his upcoming meeting with Barack Obama in Moscow will bring some real results.
Alessandro Cassieri: Mr. President, you are going to meet with President Obama before the G8 summit. My first question is: what is the current state of US-Russian relations? Are they really being reset? And what do you expect from the G8 talks on how to tackle the global crisis?
Dmitry Medvedev: There is a lot we can say about Russian-American relations. They are a key element of international politics.