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ISN: SCO addresses economic crisis

Author: Joanna Lillis
November 3, 2008

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Russia used Shanghai Cooperation Organization (SCO) talks in Astana on 30 October to urge a shake-up of the global economic and security order.

"Our meeting is taking place against an international background that is not simple," Russian Prime Minister Vladimir Putin said in remarks quoted by the Kazakhstan Today news agency. "The world has entered a very important transition phase of its development, whose main substance is forming a multi-polar architecture for international relations."

In a swipe at the United States, which Putin has accused of striving to create a unipolar world, he urged "the transformation of the global and regional security and development architecture through joint efforts, adapting it to the new realities of the 21st century."

Despite Russia’s own use of monopolistic practices, especially in the energy sphere, Putin attacked "the detrimental nature of monopoly in world finances and the policy of economic selfishness." He went on to suggest that governments should play a greater role in a new global economic order.

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