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Russia's Putin Explains Why He Called USA 'Parasite'

Joe Biden and Vladimir Putin
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Beijing, 11 October: Russian Prime Minister Vladimir Putin thinks that the USA unilaterally benefits from the monopoly of the dollar as global (reserve) currency. In his interview with Chinese media, at the request of journalists, Putin commented on his earlier statement about a parasitic nature of the US economy.

"I did not say that America is a parasite on the global economy, it is a parasite on the monopoly of the dollar as almost the only global currency," Putin said.

He opined that it was bad both for the global economy and for the USA because it makes one relax and leads to violations of financial discipline.

"But I would not want everything I said to be taken as some sort of sweeping criticism and desire to throw mud at someone. No! All countries, one way or another, are facing some problems. There is nothing to be happy about here. We simply need, together with our European and American counterparts, with the BRICS countries, to think about, within the framework of the G20 for example, how to get out of this situation together," Putin said.

According to him, it is necessary to look for coordinated solutions, and "today no-one is interested in any kind of stirring up," he said.

"Under the conditions of globalization, we are all in one boat to a certain extent. One needs to be careful not to shake it, not to get water in it, to prevent the boat from capsizing," Putin said.

The prime minister stressed that his assessment of the situation in the US economy was not unique. "Listen to a number of European experts, leaders, members of governments, heads of financial and economic blocs of the leading European states. They are saying the same thing. I did not say anything new," Putin said.

He recalled that currently the US Federal Reserve was buying Treasury bonds, that is to say, "simply printing money".

"In this case, I do not want to give any assessments. Perhaps our American counterparts feel this better and more accurately than we do in other countries, but in the past they advised us against doing so," Putin said.

He suggested that, at this stage, some things may be necessary, but added that "this policy has certain limitations".


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