The participants of Global Policy Forum in Yaroslavl will discuss the most crucial issues of the present

The topics to be discussed at Global Policy Forum in Yaroslavl were presented in Moscow. The Forum will take place on September 7-8 of this year.

At one of the meetings with representatives of recognized international mass media Editor-in-chief of 'Expert' magazine Valery Fadeev identified three crucial economical issues appeared on the agenda: reduction of budget spending by the European Union and the USA, developing countries preparedness for the economical growth, and ability of globalization to meet needs of the present.

Actually the issue of social expenditures rate today is topical for all countries. On the one hand evidently it is too high both in Europe and in the USA; but on the other hand great reduction of social benefits will cause growth of poverty and cutdown of consumer spending in developed countries. World history knows at least two cases of getting into repeated recession due to early cancellation of budget incentives: one took place in the USA in 1938 and another - in Japan in 1997. The participants of the section 'The rich and the poor: where is justice?' will have to work out practical guidelines for modern states on economic growth strategies, social policy, management of conflicts and crisis: processes directly affecting formation of national as well as global political and economical culture.

The issue of developed and developing states roles at the world economy development is also topical. ‘Todays pattern of global economy based on local industries in developing states, and on surplice in developed states, is already out of action. Thus we’ve got the question whether developing countries are ready for self economical growth.’ And that is another topic of the Forum. Russia, that does not have any independent strong monetary system, could be given here as an example: ‘Here in Russia we used to have a prevalent idea that there is no need to create our own monetary system and that there are huge financial corporations able to provide cheap credits for Russian business. But current crisis has shown us that we shall count just on ourselves. Foreign banks immediately stopped to give credits and shut down their business in Russia. Surely, that doesn’t mean we have to become segregated from the world, it means we shall develop and strengthen our own financial institutions. We’ve got some banks in Russia, but we almost don’t have investment funds’, - Valery Fadeev answered.

Such living topics of the Forum resonated not just with Russia but with other world states. According to the organizers this year Forum will have half as much foreign reporters as compared with the last years – almost 100 persons. Federal Chancellor of Germany Angela Merkel and President of Turkey Abdullah G?l have already confirmed their participation in the event. Let us recall that the Forum in Yaroslavl is held for the third time and it is already named ‘Russian Davos’.

 

 

Author: ‘Expert’, 29.08.2011

 

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