Topic: Global financial crisis
The Shanghai Cooperation Organization (SCO) premiers' meeting "is expected to address social, economic and humanitarian cooperation among member states, and ways to improve the organization's activities following the results of the SCO summit in Dushanbe on August 28. Special attention will be paid to SCO coordination activities amid the global financial crisis," the Kremlin said.
The global credit crunch, sparked by the subprime mortgage crisis in the United States, quickly spread to Asia and Europe leading to record losses on global financial markets and a worldwide liquidity shortage.
The SCO, which is widely seen as a counterweight to NATO's influence in Eurasia, comprises Russia, China, Kazakhstan, Tajikistan, Kyrgyzstan, and Uzbekistan. The group primarily addresses security issues, but has recently moved to embrace economic and energy projects.
Add to blog
You may place this material on your blog by copying the link.
The main event of the third day of the 11th meeting of the Valdai International Discussion Club in Sochi was the closing session with President Vladimir Putin. The atmosphere was calm and open, despite the current political tensions and the Russia-West confrontation. The Russian president said that it corresponded to the spirit of the Valdai Club.