Insights from Putin's SPIEF speech

IN his recent speech at the St Petersburg International Economic Forum, Vladimir Putin touched on an array of issues, from Western neocolonialism and emerging global power centers to Russia's economic prospects and defense exports potential.

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Sputnik asked experts in each of these areas to share their thoughts.

The Russian president's remarks at SPIEF about the need for a new model of development free of “golden billion” neocolonialism “is based on the observation of the world balances of power that have unfolded since the US financial crisis of 2008,’ veteran Brussels-based geopolitical analyst Paolo Raffone told Sputnik.

“Today the emerging countries have emerged to the extent of being comparable individually (China) or collectively (BRICS+) to overcome Western countries. (Putin's) remarks are addressed to the US, but are also a warning to the European former powers that still have not abandoned the outdated path of eurocentrism,’ Raffone explained.

Putin’s comments are geopolitical realism boiled down to its essence, “calling to rethink the national and international policies for the economy as well as security,’ Raffone said.

The Russian president isn't alone in his thinking, the observer pointed out, highlighting Italian Defense Minister Guido Crosetto’s bombshell remarks this week about the EU and NATO's loss of relevance, total dependence on China, and failure to engage diplomatically with the Global South.