Next Few Years Will Turn Into 'Perfect Storm' For Global Economy - Senior Russian Official

BANGKOK (UrduPoint News / Sputnik - 19th November, 2022) The next few years will be a "perfect storm" for the global economy, when the negative trends accumulated over the years converge, Russian First Deputy Prime Minister Andrey Belousov said on Saturday.

Belousov is leading the Russian delegation at the Asia-Pacific Economic Cooperation (APEC) summit that is taking place in Bangkok, Thailand, from November 18-19. According to the senior official, the agenda of the summit on Saturday concerned international trade and investment. Member states "almost unanimously" agreed that the world is entering a period of severe shocks, which is exacerbated by climate problems and unresolved technological challenges.

"Now we are only beginning to understand the severity of the problems that the world is facing. The fact is that the next few years are a period of a perfect storm, when negative trends that have been accumulating for a long time converge for a limited time period," Belousov said on the sidelines of the summit.

At the same time, Belousov noted that meetings with representatives of the so-called unfriendly countries showed that the world is starting to realize that attempts to isolate Russia only deepen the crisis.