The US economy is no longer able to compete honestly, so Washington has to resort to unfair rivalry methods, Russian Foreign Minister Sergey Lavrov said at an annual meeting with students and academic staff of the Russian Foreign Ministry’s Diplomatic Academy on Friday, ONA reports citing TASS.
The minister noted that the United States continued to be a leading power from a purely economic viewpoint. "However, its relative role is declining," he said. "While the Chinese, Indian economies and the economies of some other countries and regions have been growing rapidly, the US economy is no longer able to compete honestly. That’s what we have seen over the past two or three years."
Lavrov stressed that Washington’s actions in global economic relations are currently determined by unfair competition. "The World Trade Organization’s principles are being eroded. By the way, it is precise because of Washington’s stance that the WTO’s Dispute Settlement Body cannot begin its work. The US resorts to procedural tricks in order to keep it in such an uncertain state as long as possible," he added.