to give way to the new generations who are coming and saying we want integrated blended multicultural society the. songs of yesteryear every. day of history i mean people here larry we'll get today's nation where yesterday's news our don't want to sing songs of yesterday i mean we have a past we have a history and to know who you are you need to know your history and what i'm very afraid about about this political discussion but it is a correct discussion is that a to stickle freedom is under threat because now you can write a song without you know trying to raise your past news round up to now be back in around thirty minutes with them all but in the meantime stay tuned for artie's interview. russia's minister of economic development mark seem thank you very much and

welcome back to our team. my first question might sound a bit unusual but how does it feel to be someone who always finds himself in a position where he has to defend the ruble surely what in the deal is a good friends the ruble is the she him of market economic incentives that were. created in russia in the past several years. we are collecting of them every day it's the inflation targeting is the new fiscal rule it's a new mechanism which is only it's rational from the blitz you gets you on the global commodity markets and this is what's in the deal if you protects the russian currency makes it more stable because if you compare the cut institutionalization of twenty which you we have as if that put it at that point of time we have.

those because of the sanctions stocks we have sharp decline in oil prices it's even the fuss that was happening in the autumn of twenty foot you but the difference is really dramatic at that point of them it was extremely well to financial markets which were infecting the mystic when they meet these things. by the fed that we have for you floating exchange rate because of previous feeble currency would have previously able financial markets which are not on the big stress and that helps economy going forward and that leaving a stable economy because i would just like to explain really quickly to our viewers that i was lucky to have a conversation with the minister in september and i wasn't the only journalist by far who was asking mr rushton about the russian currency but today the ruble is about six percent weaker then you predicted back then so what is going wrong with

the forecasts. well the first of course the thing that is impacting the russian currency that you all come when you seek women across the globe is the fact that the oil prices declined substantially manoir talking with you in september as far as i remember the oil price was at all and that was put a bottle of no it's if you look at the bread price it's fifty five so it's you know dramatic change here and we have that in the same period of time soon september ruble has appreciated at that point of time when we were talking to you we see you in the global was trading against you is the as far as i remember it was above seventy rubles put it to the now we have sixty six sixty seven with a. little bit of volatility here a little bit of what you there but once again you spite sharp decline in oil prices

ruble case appreciate that so still there are no reasons to change the forecasts well once again we have created a broad set of market economy institutes that are working lead to the true work and this is the kiddies i'm behind a longer term stability year of the national congress and this is the big difference completing which is what we had prior to doing. i understand that you don't like talking about these kind of things perhaps as officials and people who are in charge of the economy but my first question was psychological so to say so i just wanted to ask you a few at some point realize that the ruble is in real trouble will you ever come out and say stay away from it to the journalists and the public will you dare to do that i believe was printing too much time discussing the issue of the currency it's

not that important anymore what we should do. talk more about it's actually the structural changes which are shaping the real economy industries which are doing better the industries which have been hold the services sector how the digitalisation process going on this is what really important in the you know the future the financial markets we should you know switch from the you know talks about what's happening. in the current situation doesn't the longer term situation towards the fact that a switch a key for the. we will definitely move on to that but can you please answer that question specifically will you be able to do that well first of all where we have the central bank was in church or the effects market and the central bank has highlighted that we have switched will be for you for watching them and as far as i know they do not plan to change anything the u.s.

china trade war has and hasn't begun at the same time as we found out after the meeting of president trump and mr xi jinping in point of it's so how likely is it that at some point we'll realize that the drums of the trade war were fake possibly or the current leaders of these two countries are just good negotiators well they're not fake because if you look at the figures you will see a substantial lead sheets year in the void himself experts from the united states to train or from the united states if you look at the dynamics of the chinese economy you will see that there is and the impact of that story on the chain and that means that there is a big compared to the global economy which is doing much worse the computing is what it was performing in doing just seventeen or even the beginning of this year so we definitely see. results real negative results for

what was initially just dogs but as leaders in. it's collated tariffs trade barriers and that we can already visible negative impact on gross and on trade but these ninety days is this just a delay or it's an actual achievement well as of now it's actually it's achievement because. two sides are at the table and they discussing the issues between the two companies but in any case i believe that the overall negative impact will be present because starting. like this it dissolves. you know raising unpredictability of what will be happening in the future because in one thousand b.c. you know that we're talking about too large a stick with them it's global and you hear a lot of. supply chains that connects those because if

a lot of from the west means that i meet with him those that got this and we're talking about just ninety days and it's not clear what will be happening after those ninety days so of course it would be made to impact on the predicted. with the economic agents for the companies which are working in both of the corners so that is you know in which we live and this is the deal it's here. which is already getting him back negative impact on the global economy. so the world's two strongest economies have shown the importance of compromise can russia do a better job when it comes to compromises during trade and economic and still ities well if you look at the actual statistics. you will see that russian experts treat and over and over. all this explaining in the

past couple of here or so that means that we are doing pretty good job and we have plans in dipping integration of russia into the global economy deepening treat investment. overall economic relations with a lot of contraceptives the globe and you have many politicians across the globe who are against this as far as i understand because new sanctions are looming and the old saying actions are being extended. we look. forward and then relations with europe for example you will find you know you can look at the political state there's a lot of talks a lot of buzz sanctions and cetera but if you look at the figures you will find out that in the past two years they've treated over between russia and europe was growing double digit twenty three percent last year twenty one percent is what we

are witnessing this year the. flows between because this is all sort of running double digit. if you look at the investment if you will find out that russia was european car that is are involved in a number of large skeel medium scale small scale but if you look at the large scale you play in the atomic and you clear plants construction in hungary in finland you we see in those three mm projects going on you will see. growing competition at the border between the russian and the european union you will see of course cooperation and support from russia in the current plan of increasing the it all. which was recently introduced by the euro commission so you . a lot of it is because i'm a patients where we can really put you to results that's why. some time ago would

start to talk about the reasons and the economic relief and so we see that we can between the russia and the european union so what we need to do going forward we need to concentrate on the me we have concentrate on those projects we. put it to you both for russia and for the repeal and you know that is most of the projects. in create in the vast months in going to work you know technological and a lot of this and of course. we listened tension to just the noise and bustle of the political. but if you go a little with some of the small countries which are most important for the quantum of the whole european union are. the initiating the noise and we should be a list attention to that and the more attention to the real economic projects while i think there is also some noise coming from the bigger countries too and the

political figures they're making important decisions come across these words of yours written a song in russia. are you sure we are there. is the right word for you know that in the past couple of pigs that was in portugal i was in france but was caving in the cheering in to go on full commission between russia and those two contests and there was only a boy you've just crush them joint projects that can do together so i don't know what kind of contest you mentioned when you're asking that question well i'm talking about the statements from senior political figures are saying which one. major powerhouses of europe and their leaders like ms merkel like mr macron i know the u.k.'s leaving the but i was there i was talking about continued pressure i was

in russia i was in france last week and when we together. but ignored him it was the head of the ministry of finance and of course the you know francois giving the statement to the press after the meeting he was wishing publicly that france will support such a joint project. particularly reports that because of the beacon of all the tide in the first project hume on the injury that the government will provide additional guarantees support for those projects and so on so forth doesn't send a strong enough message to the people at the very top. i don't know i don't know but once again we are concentrating on the real economic projects that unite and not divide the companies and those projects. boy you see if war people of russia people if you are up and the number of projects which we can go even in the coming years is tremendous so my view can you please name a couple or

a few i would love to go into the details if you pick any country portugal spain france germany italy all of the major equipments which are important or they would be new and you will see that there is growing relations between russia and those businesses from those countries russia in these investing in those countries in those countries and everything in the russia where trade more girls and treat is double digit so i believe that from this point of view should concentrate on the economic agenda and this is the most important thing as ordinary europeans and there are many of those among our viewers can you name some specific things that they could be happy about or could be looking forward to when it comes to. russia's involvement what do you want to give them what exactly we have many viewers in europe and you are saying that europe needs to be happy about some of the business

that you are door and or looking forward to taking with them just plain numberous the girls exports from the european companies to russia have increased more than so it's eight percent. during the past couple of years what does this mean it means that a lot of new drops were created in different industries in europe of course it's not a negative culture because the sanction story count the sections thirty place but there is a number of industries which benefit from increasing. sales of those goods which are produced in those companies to rush so this is the jumps this is the wages this is. what is really important for people in all the european companies to be. i certainly don't expect very many people will choose to be biologically go through

a big move your body isn't working for osa i mean if your mind isn't working for well i believe that we will have pretty much no biologically old people we will have a much greater number of people. some of russia's closer partners love talking about the idea of trying to somehow move away from international trade in u.s. dollars and also they're talking about ways to dodge american sanctions. but i want to stay with the europe a bit more what do you think about their success and the progress in creating what they once announced as a special payment system to bypass american sanctions when it comes to trade with

iran well what you just have mentioned it's not what russia is talking about it's what europe was talking about europe is talking about it. really is a process shifting towards more and more important you are in the global economy europe is talking about how to avoid u.s. sanctions which impact european businesses so it's not that there was that emerging in russia it's talks and assessment of the kind of situation from europe and of course really really to work and we work on different projects with all european partners because we believe that the u.s. sanctions is not the boat put it it's about equipment it's about hurting economic. and businesses economies and businesses in the europe it's would creating in the vitamin rich u.s. companies we could be against european companies so that this boy europe is

starting to understand that this is what is really hurting them in development of fuel and it's starting to working against it and of course we believe that this is a positive story also for russia and we will get to work with all european partners but isn't an assessment of their progress a good example of whether there is potential in that kind of switching to other currencies and attempts to ditch the dollar so to say well there is a positive trend already if you look at the statistics you will find that for example for russia the share of the dollar in the trade is declining. progress with different countries with our neighbor as we sturrock he was you will everywhere we see declining all over the world in terms of currency that serves the trade. of course there are big issues like for example come what is the markets changing

situation here and changing the trading from the listen to your us will you know substantially decrease the shale the dollars i believe that is one of the areas where we should work together because you know russia is not a the look on. europe is not. the best countries but for somebody in the web creating energy resources in dollars so i believe that we should think about switching at least to europe and the current scene which is more common for russians and for the europeans mr ashton your government body is called the ministry of economic development what or who is the greatest enemy of the economic development in russia inside the country and outside the country will if you look once again on you know just on the statistics you'll find though the do

more with a few is one of the key challenges because of the those transfer to a form to ninety s. over the previous century and the key thing that they call in the me and we have really limited. supply of new labor coming into market so. solving the world's interest will of course will be first of all harp and it will be a long lasting you know effect the fall of any meter that is implemented in this area so this is one of the factors which is substantially missing the good old story the second story is of course all the factors that are limiting investment that all of the barriers that administrative barriers that we hear all the when the position in different markets. a little of can be so and supports a lot of stories regulation which is not for supporting us in some way in the street investment activity so all those things are limiting investment activity

and thus once again limited government grows so on solving those issues so we are concentrating these days and outside promotes say it i believe that. trade wars as they are impacting the global economy development is of course another good story not only for russia but a new. economy even for the united states this is will be eventually having negative from back on the economy through high inflation through higher pressure that will free to fade the result of which will be forced to react to such and such a trend in the in the inflation then they mix so these to believe the global trading system is one of the key and they get it from bets on the global agenda and the second one is of course on growing the slowdown. of the global economy duty fundamental reasons i mean and of girls in the united states in the europe

structural slowdown. in china and blow all blow up of the unsustainable growth models in countries like argentina and turkey. mr rushton how has your ministry coped with the task of becoming the ministry of the future this is the definition that we heard from you once well it's pretty simple we need to make decisions no which will impact the future of the ground so when you propose ideas and you know measures that will be having a long lasting impact so we're in now what if it be. business we're looking at what will be happening with him two years three years five years from now what about the idea of russia's national export strategy on the website of your ministry it's been saying since twenty thirty that this strategy is being

redeveloped. well the news once again this thirty six year will find out that in the past five years the russia is expanding number of creators waves becoming completely define the global scale for example a coach explodes and we can both twenty billion political chips pretty pretty year if the record labels exports of services which you saw increasing substantially in your will and so on so forth so. the actual result in the in the data which is which shows that involvement of russia in the global economy is increasing we've williams of exports outside its own guess is expanding so agriculture you know industrial production services you know all of those areas would have applied to the next by looking at your own trips can we make any judgments of geographical priorities in russia economy you've just come back from japan for

example well i mean doesn't it i mean. that it can share all their relations with a number of countries japan is one of them i'm a special representative of the president with the trade relations with japan we together with i would you put he's got eggs doing my belief pretty good job in terms of having economic relations between russia and japan that was the plan that was introduced by prime minister sixteen that was a directions we started to work. under that plan and we have. ongoing progress here like i've said if you look at the data trade to know where for example with japan they have increased by almost twenty percent this year competing with post here and a new investments. has just entered through the japanese financial markets so once again we had a deepening integration and. it was the whole global economy of course we see. each

but you can look on the air and with each country we can find those portraits we choose beneficial for russia and all that come to any other destinations that you can update us on you just name it and they will tell you what's what's happening there we strain. to exceed one hundred and ten billion though we use the in the joint to know or. from which you know there was a t.v. that went to france and usually had them to tokyo so there were two discussions on monday and tuesday and like i mentioned we have already pushed a discussion on those investments which french companies are making in the russia and then just such a large projects as article injury or you know a cost of fighting that we had a brilliant breakfast once again with my counterparts but in the limit and i believe that there was around ten really

a large french companies at the present of the level and were discussing the opportunities not only in this additional areas such as climate change and energy fusion as you see innovations in the u s. this year has been a complete disaster for cryptocurrency mr rushton please say ten if you completely agree with that assessment or widen if you totally disagree numbers between one and ten are welcome to at the end of the last year there was a lot of talks cryptic around the c. is the get going as far as i remember was the teaching of the levels of twenty thousand or one one quinn. at that point of time me personally i was collecting them this is the bubble it will explode and because they didn't problem was that a large number for you many people were involved in that in the bubble and they suffered from it so what we see as a now with that. bubble you said piers you know the price collapsed several times

but what is good that that story has attracted a lot of attention to new technologies have allowed what a lot of companies to attract investment in those new technologies and eventually will we see you know from that effect will we see a police chief impact in terms of new technologies for different types of activities for example this year we have introduced book changes military to you know real estate deals in one of the russian region so we've implemented that the projects and it works pretty well so once again at tension that was attracted by the bubble like for example there's a bubble that we witnessed in the late ninety's to the communications you know at that point of time it was a bubble it attracted a lot of attention and a lot of investments and now you know if you believe we should be using the results of that investment boom that opened at that point up there so this is the same

story it's of course has a negative impact especially if we look at the situation of the place you kill or. you know. persons which in the west that. into the into that bubble of political it was either that them with people from pick from bringing more attention to a new technology and bringing more this was the new technology innovations so you won't give me a number from one to ten. and finally do you have a new year's wish and do you have anything to promise the russians ahead of this new year will promise from i say that they will be working as hard as they are working for the past couple of years and will be trying to do my best to make the life of well unit russians better and i hope that the global situation will be helping and that you know the real problem which is what we are facing in the body

thinks in the when these globally is that belief in the buzz of the kids have increased substantially politicisation within this is say he's between the companies and they hope that that politicization tramp will reverse and the gravity is there to improve and fix and you know moving towards the future for the humane and the wish for yourself. on your luck thank you very much mr ashton we really appreciate your time thank you. you know world of big part of a lot of things and conspiracy it's time to wake up to dig deeper to hit the stories that made stream media refuses to tell more than ever we need to be smart we need to stop slamming the door on the back and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time

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