By Neil Buckley and Catherine Belton in St Petersburg
Published: June 11 2007 03:00 | Last updated: June 11 2007 03:00
Russian president Vladimir Putin called yesterday for a radical overhaul of the world’s financial and trade institutions to reflect the growing economic power of emerging market countries – including Russia.
Mr Putin said the world needed to create a new international financial architecture to replace an existing model that had become “archaic, undemocratic and unwieldy”.
His apparent challenge to western dominance of the world economic order came at a forum in St Petersburg designed to showcase the country’s economic recovery. Among 6,000 delegates at the biggest business forum ever held in post-Soviet Russia were scores of international chief executives including heads of Deutsche Bank, BP, Royal Dutch Shell, Nestlé, Chevron, Siemens and Coca-Cola.
Business deals worth more than $4bn were signed at the conference – including an order by Aeroflot for Boeing jets – as executives said they were continuing to invest in Russia despite deteriorating relations with the west.
Mr Putin’s hosting of the forum capped a week in which he dominated the international stage. He warned last Monday that Russia might target nuclear missiles at Europe if the US built a missile shield in Poland and the Czech Republic, then offered a compromise at the G8 summit involving switching part of the US system to Azerbaijan.
His speech on financial institutions suggested that, along with an aggressive recent campaign against US “unilateralism” in foreign policy, he was also seeking to challenge western dominance of the world economic order.
Mr Putin said 50 years ago, 60 per cent of world gross domestic product came from the Group of Seven industrial nations. Today, 60 per cent of world GDP came from outside the G7.
“The interests of stable economic development would be best served by a new architecture of international economic relations based on trust and mutually beneficial integration,” Mr Putin said.
The Russian president said there was increasing evidence that existing organisations were “not doing a good job regulating global economic relations”.
“Institutions created with a focus on a small number of active players sometimes look archaic, undemocratic and unwieldy. They are a far cry from recognising the existing balance of power,” he said.
Copyright The Financial Times Limited 2007
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
MORE DETAILS:
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
