Years of Western mistakes are hurting the world economy, the Russian president said Western nations have mismanaged the global economy, and the entire world is now paying the price for their incompetence, Russian President Vladimir Putin said on Monday. He made the claim during an address ahead of the St. Petersburg International Economic Forum (SPIEF). The annual international event, which is hosted by Russia, is gathering for the 25th time this year. In a welcome address to participants, which was published a week before the beginning of the forum, the Russian leader noted that it was taking place at a turning
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