Until a couple of months ago, some economists argued Russia’s robust growth of recent years had effectively "decoupled" it from a direct correlation with the US economy. While the financial crisis proves the theory wrong, the Russian government is insisting on a new world order.As world leaders try to deal with the biggest financial crisis since the Great Depression, President Dmitry Medvedev is echoing his French and British counterparts in calling for far reaching changes to the world financial system.
“We will need a new international agreement. The financial system must have common sources, which implies a multiplicity of world financial centres and reserve currencies. We need to form a new risk-management system,which would be based on new techniques, not the principles that the Bretton Woods agreement was based on,” Medvedev said.
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