aides gives us his insight of studying the economic ship and its global impact. hello again or welcome to spotlight the unfinished show on r.t. algernon and today my guests in the studio is part of crazy about quote. the currency wars which were sending shivers across the financial markets are here to have been defused for now developed nations are trying to secure a more even balance between economies. is russia going to profit from it here is the aid to the russian president sarkozy. russia is promoting its currency the ruble as the new global reserve currency to use the ruble in trade

routes neighbors including china but it wants to see to use more a working group has been created in an attempt to improve the reputation of the russian currency the plan is to turn moscow into world trade center. the ruble as a reserve currency would strengthen the russian economy and give it competitive advantages when it eventually joins the world trade organization arkady dvorkovich says the exception into the organization will happen next year but that we've heard many times before. the show thank you very much for coming well first of all let's talk about the g twenty that they just took place well first of all on the g twenty leaders agreed and so to abstain from devaluation of their national currencies and this as president medvedev has put it i quote inspires optimism about the future what can

guarantee that this agreement will be implemented why. just a piece of paper as we say there are. two things one small correction leaders agreed to abstain from our competitive devaluations for national currency which implies. that gives this. water in a sense of artificial the relations a lot not what mixes of a spoiler you know a lot of the way that the fundamentals of for a particular economy but those things that make them believe that this commitment is really effective one one thing courage is very important is the way our previous commitments of the g twenty leaders. have been met one with example is a commitment to refrain from protectionism we could see much war station in the world without that commitment taken back. in washington the first summit of the leaders

of all countries and to use some protective measures but without the commitment to refrain from major form of protection we could see where it was that would divide the world altogether and the second thing is a petition political commitment to leaders implies that breaking that commitment. to education under these leaders do not want to see. you say i quote you no actual policy of printing money can increase the risks of money markets especially emerging markets to to to be near to the to be risky and current meanwhile the u.s. keeps pumping and pumping billions of dollars of printed dollars into its economy doesn't it contradict the g twenty decision what about their reputation have a banner. from what i know from what i know from our

finance minister and central bank they are from an informed by years of mystery sion by phil treasury and until it is your for him about what he says about him mounts of four new ones being issued and this allows them to to make steps to alleviate pressure on the market in this what is really important any government in central bank. right to conduct polices. that they believe are needed for the national economy but what is important for us is to know what they're going to do and to react to this out to excessive for motion on. this from washington reaction construct real magically. making good risks lower and this is what leaders agreed on they agreed that the finance ministers and central bank are governors will meet

frequently we'll discuss those things will consult each other really develop a set of irons indicators that will help them to it would major imbalances well that brings us back to your correction of announcing the first question so so so. as as far as national governments are informed of what's going on even in the united states to bring to bring dollars as far as far it's a competitive you feel more or less safe about it yeah you feel safer. there's nothing absolute in this world we feel safer into it as important. is. that we also know what the plans are. other boris's like fiscal policy was commitment to making toronto to reduce budget deficit by two fault in. i see it a four year period and if all countries feel. this commitment then

risks will be substantially lower the russian national news agency really noticed your rights i quote south korea proposed in the idea of creating a global net of financial security is it true does russia support it tell us more about it is that one of the original ideas of the korean president. to create a called global financial safety net and the financial safety net so include both global instruments governed by the international mind the front and to other international financial organizations and to such instruments were developed. before the summit in seoul into or approved by leaders instruments that create much more flexible conditions for countries that found themself in a problematic station to. request. and he does help without

breaking preposition altogether in the second component of the original. on the part regional areas. were your direct neighbors will help your local finance i your to be station programs in we'll share. with other countries until you close those two parts will constitute the new system is not the bretton woods two yet you're not there yet but it's one of the ends of the future. new future global mind the system is speaking about risks many experts today speak about the risks of the cheap dollar and cheap you wind for russian economy is there a risk that the ruble will start becoming too strong. well be for. inexperience already here. he's overweight it will. in the way you feel will was higher than the supposed by from the

mental due to higher inflation and capital inflows that hurt before the crisis and creates risks for for the economy what is important is that the rate of appreciation of the national currency is not higher than the rate of increase in efficiency of labor productivity and energy efficiency and other efficiency indicators we believe that at least at this point in time the medium term perspective. would potential to increase efficiency even faster than the rate of increase in the deal where you or robel and this will keep us on the safe side and will not experience the new negative and second so far of the world or because that's very very interesting to hear that from you because this is i think the first time in my lifetime that i hear from

a person like you in the government to to to be betting on increasing efficiency of the got to be not on the wall price in something else this is interest well the only think we can bet on right now there is no no way we should do i explicitly on our committee experts and global prices prices are all tile and we. experience that during the crisis when both physical demand and prices went down in that we lost a lot of praying in the focus of our present government right now is to you know falls in with the musician plan to increase efficiency of the russian economy and they are safe i was the most occur in our production and our exports so. it's the only way we can proceed. great ok there's still another quote i want you to comment on it comes from robert zoellick the head of the. of

the world bank and he wrote in the financial times recently quote this system should also consider employing gold as national reference point of market expectations about inflation deflation and future currency values and quote is russia supporting this idea of increasing the role of gold well. this. phrase. by robert zoellick the president of the of the world bank is or was the exact. reference to what the president medvedev said two years ago one of the summits one of the strength that we are advocating expanding the basket of reserve currencies. and we should also think about are all walter's one of the stimulated the fact that

we should means russia is a supporter of the russian russia is a supporter of the sadia it's still to be discussed what exactly their old world could be. we are far from the. suggestion that the world should become a new standard country should move again to the gold standard. risks involved in such a scenario. could be even greater than than the current station but we could see a greater role of new regional leader of choruses in gold in the new mine three system and this subject is going to be called by both experts finance ministers central bank governance and leaders eventually and i during the french presidency a conference french presidency in two thousand to have an says aide to the russian president at one point the spotlight would be. shortly we'll continue this interview in less than a minute after

a break south stay with us don't go. he is going to. need to. see. the. motion soon which will brighten if you move the bounce from phones to impression

these. stunts on t.v. don't come. sweet and clean. and fair use. radioactive and dangerous. and even dead and desolate. they all keep their unique secrets of their bottoms unique lakes on our t.v. . welcome back to the spotlight i'm alvin of in just

a reminder that my guest here in the studio today is out of the out of college the presidential aide eight the russian president dealing with questions and problems our economy we're discussing the the g. twenty summit that took place in in korea. russian world economy. nokia a famous communications company is said to be starting its business or whatever in skulk or the russian innovation center during the apec summit you said since japanese companies expressed an interest to bolt towards the skolkovo project to sell not only the finns but the japanese to which particular camp companies k. can you name them how soon can we start doing some. of the first tools cocoa projects. has already attracted interest from all parts of the world in the finnish and different companies because for huge interest from our other european countries our agent in countries like korea in particular or the president or the

bullet will be as well and american companies many american companies who want to participate in the project that's called over is already flagship project for many people. many investors professionals who are coming to russia. can question what can we do it's cocoa that the first questions they ask before they ask questions about corruption not investment well it's enduring you know and it's important for us and skulk over though a driver not just a physical location for four companies but. japanese company is a very good conversation with the motivation of these. two with. metals with heavy industries to be a. sumitomo company and. the story of. joe you will see you talking china joins also our japanese partners about the pharmaceutical

sector since we know that in japan this the development of new drugs new from a surgical. trade. and thank you recently japanese companies were working only with the pharma giants in the united states and europe and we agreed that we'll explore ways door world directly with. pharmaceutical companies so they can come through russia and invest in russian threats are indeed in russia. the government has approved a five year plan of privatization where do you think the assets but i know you don't work for the gold he work for the president but when i go to sell the assets and the russian change or abroad london new york paris tokyo where is the decision of the government to expand the protection program and to prioritize the major

stakes in a large russian company companies. it was. invoked that after the instructions of the president and after the report to the president the president approved the report from the government and this that cleared the way for those protestation the reason the president is involved in that all those companies are in the list of three. companies and all provision deals with those as it should be proved by by the president so the way is open for those that are in their actions. in each individual case. mr finance and mr quantum here. in consultations with professional ethics managers professional. financial institutions will take a separate decision on where and how to prioritize in moscow or in london or in new york or it want to know what i will get more money exactly also in which way i.p.o.

or direct. sales as to the strategic investor or auction of the small packages to be to be sold and all other possible ways of doing it and doing that of the reason i ask this question the previous question is that is that we reading that that there is a plan or making moscow a world financial financial center and even a special group headed by mr voloshin the accent of the presidential administration is set up to create this financial financial miles inside the russian capital how's it going what has been done so far is certainly the really you so provision program to promote more score is a financial center it's too early to say that most will become the global financial center we are one of the at least what we're starting with the original financial center and that's the first step toward this parish and moscow is a comfortable place for making capital transactions and you know is eastern europe

regional is eastern. europe and. former soviet union countries and by the direct neighbors in position program is a good instrument to promote most course. and. still the overall international financial center program involves not just pretty nation of russian it's but also making moscow a comfortable place to live for into the business and this is one of the tasks of the new mayor of moscow to do something it's also it also requires changes in the legislation. in. preparation for basel so how to change the financial just ration passed legislation to improve for investment climate in russia investment climate in moscow and also it's about

administrative procedures about simplified visa and work permit. procedures to. to simplify life for people simplify. ways for people to come through russians work to russia it's important for everyone otherwise people will just not come. let's question is where is. economics what to do and policies like start flocking to get that. russian assertion to double tiro and the position of georgia you said i quote once again georgia is still able to block russia's assertion to but russia is expecting the assistance of some other countries which countries do you mean that could influence georgia persuade. before any country into there with you or any country can book a session in country since it's a concern consensual if not the majority of war in the eyes. till the very last

moment until. the in argument comes that a country is. accepted to the elites here this is not taken any country including georgia can look to russia russia. but what makes us confident that we can go through this process is the real interest of our major partners. both in europe and the united states in russia joining. we know that they're interested so it's clear that they will try to help. the there is a technical way to communicate with her for our swiss partners. as our representatives . right now so certain switzerland will be one of their partners but we also expect support for our our other partners in this process. another common one

xperience outhaul than rather critics of what you do with the president say that the problem is actually in the fact that the demand for integration products is extremely low in russia as well as the level up competition would you agree at least partially because i was fully with that and you know we started working on our own arm of the middle initial program that i visit the same idea that we should to stimulate demand for innovation how can you do something which is out of the mark block this is very ugly business this way is up to this why we should start with militancy month and we are trying to do that was in direct way and also in that way. the direct way to do this is to and i change the system of government procurement. to all increase the state demand for new. and i waited for

more than our roots in services and. to prepare the piece of legislation that will . allow a storm require are the products and services that we are buying should. be in compliance and consistent with the most. and more than a standard is best there were both standards in the world so we were getting most annoyed broad of also we will create a system where we can make the advance order for things that are not created yet which will. make another push for innovations the companies will know that we need something in three years so they will try to develop that something. indirect way to stimulate demand for innovations is to create way disincentives like tax incentives. or. develop new technical relation technical

standards for the private sector for people thought that they will start. the increasing demand for new products and services will do both really last very short question your boss he seems to want also not only to do the inside the country but to start selling russian innovation on the global market and he said medvedev so i mean the president he said that is emphasizing the importance of creating popular high tech brands in russia can you name any of them if said the sputnik and the month they are scanned the sum of wired the brands that russia will be famous we don't know yet sincerely begin the process but. our focus besides the big things like nuclear energy and communications is also small things that people need why current new pharmaceutical products new eighty products and eighty i think an area were because of clear competes for them that you have good must

indication and good professionals. that is support of what conditions they will create something new in this field of salt around the world that there are examples like. brother thank you for the frame of the world but of the same thing so it's already working but still saying so just for us to sink in the good luck to thank you thanks very much for being with us and just a reminder that my guest in the studio today was the aide to the russian president's. point and that's it for now from all of us here if you're out of your sails part might just drop me a line moving back with more first time comments on what's going on in and outside russia until then stay on r.t. and take.

seventy six hours of intense fighting. six thousand days. of beach front field several kilometers long. and now there is only one person who cares. you see we are surrounded by garbage everywhere but also there are. on this beach which of course is the very most appropriate city signification a symbol of everything that's wrong with our goddamn government allowing not only garbage but to accumulate where so many guys died. a new battle is going on. will the history be protected. return to terra what julian cooper story on our t.v.

. they faced it this is not a provocation but a warning of. a form which it and we should see everybody is sure to support victory speech so they have no idea about the hardships to be faced. by one it is this is it all too nice to me for any army the life of a usaf is the most precious thing in the world. is of self-sacrifice and heroism with those who understand it fully but you have to live a. real life stories from world war two. victory nineteen forty five dot com. fifty. five fifty.

five.

five thirty in the morning here in moscow and these are headlines this hour police across europe round up twenty six people suspected of. reported to international terrorist networks and little since. the u.s. wars in iraq and afghanistan is becoming more visible at home soil as of late a recent report shows a record number of veterans are committing suicide each marked. north island in the south with a barrage of artillery fire confirms its forces had earlier. this directed more. from both sides to avert a. danish authorities. supply whether the country soldiers abused or.