some luck for a moment while self-esteem gender is a national pride which is the duchess for patrick is i believe it that isn't words that reflect the target for national development that country russia faces. i'm far from having illusions about the whole russian economy but it's. becoming a different one with an actual yes within a relatively short period of time which must go beyond the point of no return to the models which will lead this country in a different direction. in whatever we are planning we will definitely do and achieve step by step what is this will consistently without turning. to corruption the closeness of the country in society for investment take several of the government in the economy and centralization excessive centralization of. taxes on the future which we should eliminate and we will eliminate them while the

rest of the people in this country it will do them some for themselves and. russia they will achieve their own success and that would mean the success for the whole of this nation thank you very much for attention and i wish you enjoyable and successful thank you. thank. you. and all the people of the republic of china hu jintao.

you see president dmitri meant to be. distinguished guests dear colleagues ladies and gentlemen dear friends. and. it gives me great pleasure to be here in a beautiful northern capital of russia for the saying you just burke international economics for twenty eleven. so let me begin by offering my heart to graduation on the successful opening of the forum. things it's a launch in one thousand nine hundred seventy today as. it has grown into an

important. call it discussions on economic development in russia and beyond. attracting out tending representatives of different sectors it has enjoyed rising global influence in the past fifteen years this forum has witnessed the sustained and faster growth of the russian economy and contributed to international economic exchanges and crow pleasure and we applaud the positive role this forum has played over the years and you see our world is experiencing major development transformation and adjustment. there is a stronger call development alterations among the people. see the trend towards a lot of polo world and economic globalization is gaining momentum economies around

the world are becoming increasingly interdependent emerging markets and developing countries are growing rapidly. and regional economic cooperation is making robust progress. science and technology is on the eve of a new regime and the global economic order is undergoing profound changes. well even with all these positive developments how we should not lose sight of the potential risks. with more than two ears after the international financial crisis the world economic recovery remains slow and fragile that. the underlying impaction prices are still with us. and the outlook of the world economy is certain in that in addition international and regional hot spot

issues that keep their ring up on even development between the north and the south is more acute and protectionism of various forms is research. but. there are a range of new global challenges such as climate change energy security and security threats and the very survival and development of mankind. treated china will take an active part in discussing and resolving major issues in a world economic development and work with all other countries to meet the various challenges to this and i wish to make the following observe patients the first. we need to enhance global economic governance and press ahead with a reform of the international financial system. the international financial crisis

has taken its toll on individual economies and the world economy as a whole. the crisis has highlighted the deficiencies of big system international financial system and the inadequacy of the global economic governance mechanism in dealing with crises which are. today emerging markets and developing countries are taking a growing share in the global economy. and playing a bigger role in global governance. human. global economic. should adapt to the new changes. the landscape and the principle of mutual respect and collective decision makers there are cities of special importance to increase the representation. of emerging markets and

developing countries in the new mechanism. need to support and promote a greater role in june twenty second all making governors side. in order to bring about full recovery and the growth of the world economy. corporation mechanisms of emerging markets notable that. represent a new model of global economic cooperation and a prime example of multilateralism. callable we can all make governess. build a. just inclusive and well managed international monetary and financial system. and then a balanced much electro trading regime that benefits of.

all forms of protectionism and work towards an international economic order that is more just and more reasonable. second yog character we need to accelerate a transformation up you can all make development patterns and make appropriate adjustment to economic structure there won't be economic development as broad opportunities and challenges. we need to. follow on trend. and adapt ourselves to changing international economic environment. we should make remedying efforts to transform economic development or patent and adjust economic structure so as to resolve various economic problems. development. transformation. when it's.

your father in this process of transformation and adjust to. countries actually should learn from each other. and work together and we would also a strong challenge you sustain a bone which the balance to growth of the world the economy. of an elite to our own is the bosses in science and technology and quick new steps to make them a key driver of that is not used as scientific and technological innovation widens and deepens about it what's more they don't surface and countries around the world are losing no time in iraq anjan innovations strategize tannoy resources to research and development and training all innovation minded personnel in china to. build innovation good ability and become and it. should encourage called rationing

the nation between countries and promoting the application of scientific and technological additional men's. innovation driver won't economically about the mend. the solution not to bad. obstacles make you drowsy we should combine the after. that to improve people's well so that the roots of scientific and technological innovation will benefit more countries and peoples to similar measure ladies and gentlemen. as a friendly neighbor and a strategic partner nation of the one john f. all those closely and supports russia's development and revitalization and demagoging the current we are pleased to do that in response to the impacts of international financial crisis russia has changed a series of effective measures june unsuccessfully could its economy back on the

pos of sound in those today are very cautious structuring is economy and pursuing its all rounder modernization strategy centered on innovation which aren't years gratifying progress is being made on narration rounds and leaving sounds as a progression people on the rising to ensure a. major emerging markets. would announce that any development which provides an opportunity is not only to each other but our sound. economy. jr say we don't asses from both sides down out economic and trade cooperation passing a strong relationship interesting way and we are not only common each other's major trading partners it's. during my visit to the sign of a beautiful present a medal that if i have every family and to raise

a liter of water more you chilled out a hundred hearings just honest five hundred fifteen our new guard and army on board i'm two hundred eighteen yes just up by twenty twenty one. to lance new employees has roles in more deeply neutrally beneficial corporation investment and edgy in the energy ideation aerospace science and technology finance as well as collaboration at the starting national level not included in our will expound called rationed a new and original new materials by a nano technology and intensified corporation in green and shouting extremists right here. ladies and gentleman. planning has set out the goals and asks for economic and social development in the

next five. cause such areas as a candidate outmanned structural adjustment in science technology and education resources and the environment livelihood social development and reform and opening up in a nutshell china both follow the theme of scientific young tonight and focus on transforming the economic development patterns. china will make great and leads to put people's interests for. comprehensive huge coordinated sustainable development. reform and opening up. the unimproved people's well being. promoted. and fast economic growth through. social harmony as a couple. laying a solid foundation for the goal to have a moderately crosspost society in all respects. china will remain committed to the

cause of peace development corporation. here to the independent foreign policy of peace. the power of peaceful development. there we mean stratus an opening up. why russia and other countries. in china's development and benefit from the many. years long to the west. to penetrate. and we did not meant thank you. yes the chinese are present who jintao a talking tariff say you are giving

a speech at the. international the economic forum before him at present gave his keynote speech where the theme was very much about modernization but that more on this let's cross to you and he saw no way he was following a forum for us so what do you make of what the two leaders have said so far. but you said it right down and focused on modernization this has been the trademark really up to his presidency he wants russia to modernize quickly and you start off by saying that you think it needs to also start happening at the lowest levels that society has to have the desire to modernize russia a lot of c.e.o.'s hear of innovative companies start ups like google eric schmidt is here and it's expected that resumes it will be meeting with these people that really know how to do that and trying to get ideas from them also for spoke about

the russian economy and laid out what you thought it's through certain needs to look like and that began with him speaking about the fight against rocks and it's no secret which problem. he began by saying that he thinks that corruption is literally choking russian economy and so that's something that he has laid out for a client to deal with and that. volves government reform that's going to begin with trying to decentralize power throughout the russian government we have a section of it is speech that speaks about modernization he sees russia's future economy let's listen. but surely we can change the situation for the better quality of the next two years it is for that purpose will be the following objectives dramatically improve the investment and entrepreneurial environment for the purpose of creating highly productive workplaces in all of the regions of the country for good quality progress in fighting corruption creating

more police and other one force new structures and improving the efficiency of the judicial system and finally more denies the government itself betting into each. project based approaches and decentralizing different. course with more on that important for later on throughout the day here at r.t. . well to other world news now the u.s. president is under fire from congress over the campaign in libya which is continuing the spike that's having approval of lawmakers barack obama has rejected accusations that the boys being broken mean that there was only playing a supporting role through nato which makes it legal. as more. u.s. lawmakers are saying that president obama has to either stop waging war in libya or ask for congressional approval the lawmakers claim that the military action will violate the nine hundred seventy three war powers resolution if it does not and by

friday and they mean this friday ninety days after the intervention began under the u.s. constitution to wage a long term war the president needs to get authorization from congress and only say the obama administration will certainly find a way to get around the requirements by referring to his right as commander in chief. as well as certain legal speech you know up to this day the administration has refused to say war when it comes to their actions in revia they call it kinetic military action but as a result of that kinetic military actions of unions are bombed every day a group of international observers is now in tripoli including the former u.s. congresswoman cynthia mckinney we spoke with her a few days ago she said be heard and they counted eighty nine blasts in just one day those are civilian neighborhoods eighty nine bombs dropped in just one day there is a lot of concern that the voices of those who are caught up in that who are in

tripoli go unnoticed in the international community but here in the grass it seems the voices of the majority of americans those who oppose the u.s. military involvement in libya also go unnoticed by the white house the administration continues to stress the good cause that they pursuing leiby a but suddenly say the administration also seems to be in denial when it comes to the will of their own people regarding the issue as well as constitutional procedures legal experts say there is not much congressman can do to force the president to comply at least with the u.s. constitution because there are ways to get around ways to your problem administrative seems to be using extensively most congressman now criticize president obama for as they say ignore in congress the capitol hill observers say it's mostly political games that the lawmakers are playing to score points by snubbing the president come the day to actually vote the majority of them will vote for more military spending as they always do but there is a small bipartisan group of congressmen ten people in it who went further than

verbal rebukes and they sued president obama on the grounds that he's violating the constitution but everybody here knows that the lawsuit is certain to be dismissed on procedural grounds because the u.s. supreme court has determined that the members of congress do not have standing to file such a suit and this is where it hits a dead end that it makes anyone. whether or not rice lawmakers actually have the capacity to affectively represent the people. of washington's credibility and a future of the nato campaign could be fatally damaged if congress forced barack obama to abandon operations off the table swansong says the problem is that there is political confusion over exactly what's happening in libya. but supporters make that the war powers act does not apply much less the constitution because this is neither a war nor hostilities this is something else this is

a military operation that doesn't rise to the level of hostilities which is absolutely absurd the war powers act was written in one nine hundred seventy three a very intentionally and clearly to encompass all military engagement simply imminent threats are still of these our mission and then it's percentage was debating former lawyer from the reagan white house he was defending obama and he asked this guy twice never got any answer if there were two thousand and missions over the united states by a foreign nation and many of them were dropping bombs would there be war with the hostilities he could have gotten congress to authorize war in libya it would have been quite easily done he could've done it in the sixty day gap after he started the war he chose not to presidents want and this president is no exception but the power to make wars on your own. a u.s. a judge has called the case against their russian gunner a week to boot unconvincing and the prosecution's accusations. of something that

france consumption honors and a consummate federal judge said she didn't see much evidence against but he's currently awaiting trial you were present facing charges of smuggling arms to colombian rebels accusations he denies it was arrested in the two thousand and eight american sting operation rather and later extradited to the u.s. . for the businesses. and welcome to the business person here on r t we start with one of the most important russian economic events of the year this in petersburg international

economic forum. the city of lights in petersburg has always been called russia's window to europe but with the economic forum underway it's become the window to the whole world. all eyes are on russia's cooperation with china now its largest trading partner the two sides are discussing a landmark gas deal that would enable russia to deliver almost seventy billion cubic meters of gas to beijing within thirty years the price remains the main sticking point but russian presidential aide arkady dvorkovich still believes a deal could soon be struck. because some problems in the thesis of the last couple of weeks. so we'll see that they were the promise of for sufficient thaw in the middle of the u.s. that the car is of support on the surface by little rock and so patience certainly

gets the issue was mentioned god but that's called the because of the sun. russia's major financial corp system or is set for energetic expansion but company is planning to spend five billion dollars to buy businesses ranging from agriculture to chemicals the sea systemin mikail shallow and outlines the cornerstones of the strategy. special strategy very simply have to return the cost of that which if these the course which you wish now are too small to ten percent so that's the kind of returns we're expecting and though we have to do whatever it takes in terms of for investing in projects and they just come here existing assets to deliver this kind of return to our two key markets our russia is a primary market we're ninety percent of our investment is concentrated and also india which is so because look the market just to go those are the markets that we're going to be looking out for to i suppose expand on the existing businesses

that we operate in and also new products. alcoa the top aluminum producer sees a big future for the metal with an average growth rate of six point five percent annually the company wants russia to take a big part in that development and the vice president says if they're trying to make that happen. we have a strong business in russia has been here since two thousand and five to seven hundred fifty million dollars in the market you see we see growth in this market so we're we're going to we're going to you know focus on more sure and what we're trying to do in motion there is increased productivity and just make sure that you know both our plants reach a level for activity that is consistent with what we were seeing aluminum you know growing demand growing we look at a market like china. fifteen percent in two thousand and eleven seen in market like russia where you see a man growing probably eleven or twelve percent this year so it's double digit

growth for movement there's a lot of substitution going on copper wire you change into movement and there's a lot of lightweight vehicles trucks and cars where you have to meet new emission gas standards and so a lot of people are shifting to women and. let's take a look at how the markets are performing now oil prices have dropped again after the major losses of two days ago the uncertainty of the commodities market is a reflection of investors fears that greece's debt troubles are far from other. european stocks fell friday with banking shares leading the declines as fears that the greece to crisis could spread across the eurozone and this continues to rattle investor sentiment both the footsie and the facts are both on the heart of the same down the south. asian markets closed down friday with the nikkei more than half a percent in the red energy companies were also hit by wiki crude prices with japan's impacts corporation down two point nine percent and banks are among the

main losers in hong kong with the agricultural bank of china down one point seven percent. and russia stocks closed the lowest there to the lowest price in more than a week also due to the concerns over the greek debt crisis energy majors were among the main losers as oil dropped the most an amount of gas problem. f l one point five percent and banking stocks are also lower with banks like one point two percent. and that's all the business is for this hour we'll have more for you in just under an hour's time stay with us the headlines next. to.

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