A more complex, multipolar architecture of the global development in the world is being formed, Russian President Vladimir Putin said.
"Literally before our eyes, a more complex, multipolar architecture of global development is being formed. States that truly understand and appreciate the importance of national sovereignty in the political, economic, cultural and social spheres are playing an increasingly important role in it, and they can determine the vector of their own development based on their own values, resources and priorities, identity and sovereign worldview," Putin said in a video message to the participants of the Open Dialogue Forum.
Prior approaches and the established norms of business and international relations are progressively losing their efficacy, partly due to the actions of Western countries, who are relinquishing their leadership positions and yielding to new growth centers and countries of the Global South, the president noted.
"The events of recent years show that all elements of global growth — from economics and finance to technology and demography — are changing irreversibly," Putin said.
The global development model will be sustainable if it is based on the principles of equality and takes into account the interests of all countries, the Russian leader said, adding that no nation can develop alone, at the expense of other countries or to their detriment.