- Published on 07 September 2010
- Written by WPF Dialogue of Civilizations
On September 2, 2010 the Economist newspaper published a letter by World Public Forum “Dialogue of Civilizations” Founding – President Vladimir Yakunin.
SIR – Your leader, Leviathan Inc (August 7th), argued that it is a mistake for American and European governments to renew their intervention in the development of specific industries within their economies. As you correctly noted, the state has played an important role in the recent progress of Brazil, India and China, and all the newcomers to the world’s 30 largest listed firms are state backed (or owned) corporations from the emerging world. This is not an annoying nuance. This is a sign of changing times and probably an indicator of the shape the global economy will take after the financial crisis. Developed countries face the tough challenge of either recognising that state capitalism simply works better and adapting respectively, or accepting becoming obsolete and losing out to the emerging world, not only on growth rates of GDP but on levels of prosperity as well.
Vladimir Yakunin
President,
World Public Forum “Dialogue of Civilisations”,
President,
JSC Russian Railways
Moscow




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