World crisis promoted multipolarity

CUBA: The world crisis promoted a more multipolar world than what existed decades ago, explained professor Claudio Katz of Buenos Aires University in Argentina.

Participating in the 12th International Meeting of Economists on Globalization and Development Problems he pointed out that in the case of developed nations lead to State intervention to save the banks.

Katz added that the recession revealed the deep heterogeneity of the European Union and the political structural weakness of this community. It hit Japan when it was beginning to rise up from the problems of the 90s, above all its dependence on exports, he added.

The expert explained that the United States found inroads to expand recession to its rivals in Europe and Japan and, of course, the rest of the world.

The policy of state help to the banks was defined in Washington as well as a banking reorganization that had been subordinated to the will of the US Federal Reserve to apply it around the world.

The crisis, he added, worsened the situation of the Third World since it affected the poorest sectors with the fall of exports, remittances and loss of markets.

On the other hand, it promoted rising or intermediate economic emergencies less impacted by the collapse that includes countries referred to as BRIC (Brazil, Russia, India and China) he concluded.

Havana, Sunday, Prensa Latina