Russian President Vladimir Putin has warned about the rising social inequality on an international level, which fuels the growth of populism, as well as radical right and left movements, and other forms of extremism.
In an online address at the Davos Forum, Putin pointed to the crisis affecting previous models and tools of economic development, noting an increase in social stratification globally and in certain individual countries. He cautioned that this situation is causing a sharp polarization in public opinions and stimulating the growth of populism, right and left radicalism, and other extremisms.
President Putin emphasized that current efforts should focus on building a working style that reflects economic recovery and is sustainable in the long term. He underscored that the main issue today is how to establish a mode of operation not only to restore the global and national economies affected by the pandemic but also to ensure that this recovery is sustainable over time. He affirmed that the primary reason for the instability in global development largely stems from accumulated socio-economic problems.
The Russian president stated that the coronavirus pandemic has exacerbated the imbalance issues that had already accrued in the world, highlighting the increased risks from growing contradictions that could emerge in almost all areas. He discussed the fundamental transformations in the global economy, politics, social life, and technology induced by the coronavirus pandemic, which he said represents a serious challenge for humanity as a whole, indicating that it has led to structural changes.
It is worth noting that the "Davos" Economic Forum is an independent non-profit international organization based in Geneva, Switzerland, that holds annual meetings aimed at discussing the economic and political problems facing the world and how to solve them.
