Economist Karaganov pointed out the need to change the economic system in the world

The prevailing capitalist economic model in the world cannot last long, it is necessary to invent a new system. This was stated to Izvestia on October 1 by Sergey Karaganov, Scientific director of the Faculty of World Economics and World Politics at the National Research University Higher School of Economics.

"We are currently going through a very difficult period when the economic system prevailing in the world so far <...> has come into conflict with the basic needs of humanity. This system can't last too long. We need to invent and develop a new economic system for each country," he said.

According to Karaganov, the current model was based on the capitalist principle of constantly increasing consumption. He added that Russia should participate in the process of creating a new system together with the international community, in particular with the countries of the Global South and the East.

In addition, the economist spoke about the United States' place on the world stage. According to him, in recent years, the United States has moved away from the path of the "anti-moral movement" that is gaining momentum in the West and returned to human values. Karaganov also pointed to the strength of the US economy in comparison with the European Union (EU).

"America has the most powerful economy, it has huge markets nearby. She can live without a large external empire. And the Europeans without "robbery" (raising taxes and tariffs. — Ed.) - it will be much more difficult for them. They've lost the habit of working," the economist emphasized.

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On September 15, Russian President Vladimir Putin announced the need to stay ahead of the dynamics of the global economy. The Russian leader stressed that the stability of public finances and the successful implementation of planned projects directly depend on the state of the country's economy. He also outlined the main goal — to ensure economic growth rates ahead of the global ones by using the domestic potential of industries and territories, introducing advanced technologies, as well as expanding international relations.

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