Even before 2009, developed countries faced a decline in economic growth. In the US, the financial crisis aggravated the situation having provoked a tumble in the real estate market and other industries.
At that time, Russia became the world’s leading energy power having taken control over oil and gas supplies to Europe and Asia. China, in its turn, became the world’s largest holder of international reserves, the article read.
Moscow and Beijing have been implementing major investment projects in Europe and the rest of the world. With the BRICS bank established, the two countries can counter the dominating positions of the International Monetary Fund and the World Bank.
All of the above forced the US to shatter "the Russian fortress," igniting a financial cold war, the author claimed.
Since the Russian economy receives most of its income from producing and exporting natural resources, the US conducted a dumping strike against the oil industry which has affected all oil-producing countries.
Washington is saving its own economy by fueling the purchase of US dollars instead of stocks and by printing money.
The US artificially raises the dollar exchange rate so it can cheaply buy everything it needs and forces other countries to hold their reserves in dollars, the newspaper wrote.
