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[Putin] Concluding Remarks at the Ninth St Petersburg International Economic Forum
June 14, 2005
Tauride Palace, St Petersburg
PRESIDENT VLADIMIR PUTIN: I think that all of us here have had the chance to get to the essence of the problem raised during our discussions today, an issue that really is one of the most important matters and key problems for many countries, including for Russia.
A brief analysis was made during this discussion of the relations between two different development models: the paternalist model, that is to say, a model in which the state plays a considerable part in developing the economy, and the liberal model. And I think it was rightly pointed out that each of these different models have proven themselves more or less effective at different periods in the development of the world economy.
Let’s think back, for example, to the Great Depression in the United States in the late 1920s-early 1930s. It was precisely at this time that the Soviet Union’s command economy produced its greatest results and the country developed rapidly as an industrial power. But later, as innovation-based development models became more effective and the world economy became increasingly global in nature, the paternalist foundation of the Soviet command economy and an increasing isolation from world trends brought about the Soviet Union’s collapse.
I think that many would agree with me that any government, including the Russian government, should be able to identify world development trends, world economic trends, and should be able to evaluate the state of their own countries, their social, political and economic situations, in order to choose the optimum development path.
Our main goal remains unchanged, of course. Our goal is to ensure rapid growth of the Russian economy. We realise that in this time of globalisation Russia can only achieve this if it becomes an integrated part of the world economy – but only on condition that our state preserves and ensures its sovereignty. I want to wish all of us success in this work.
Thank you very much to the organisers.