The new Russian President's address to the Russian Economic Forum last week would be looked upon a nasty bit of work by the world's superpower as well its allies and western businessmen who were present in large numbers at St Petersburg but welcomed by most in the developing world. Dmitry Medvedev, western analysts speculated would be milder and more liberal than his tough talking predecessor and mentor Vladimir Putin who has now stepped down but is still the prime minister of his protg.

Medvedev's rhetoric, commentators have said, was even harsher than that of his former boss and there will be doubts whether it was his master's voice or his own. But the message was even clearer and sharper to America and its allies. The 'selfishness' of the United States had led the world into its worst financial crisis since the Great Depression of the 1930s

America in the dock

The new president dealt some telling blows.

      The failure to properly assess risks by the largest financial corporations combined with the financial policies of the world's largest economy have led not only to losses for these corporations but unfortunately impoverished the majority of the people of the planet.

      The gap between the leading role of the United States in the global economic system and its real abilities was also another key reason for the crisis.

      Russia was helping to boost global fuel energy security by developing its energy sector while other nations were concentrating on investments in bio-fuels inflating food prices around the world.

Responsibilities

Medvedev was not only critical but pledged action. Russia as a global player understood its responsibilities for the future of the world and wanted to be a participant in forming 'new rules of the game'-not because of its alleged imperial ambitions but because Russia had the ability and the required resources. He pointed to Russia's potential as a grain exporter and said that Russia could help to overcome the food problem.

The measures he said that would be taken on the financial crisis would include convening an international conference on the financial crisis involving heads of the biggest financial companies and leading financial analysts 'as early as this year' Russia wants to reshape the role of international institutions not ready to remedy the world's economic problems. He wanted Moscow to be a global financial centre and the Russian rouble a leading international currency.

Russia's leaders would no doubt face stiff opposition in its attempts to muscle in as a key global player. They could bring about a change in geopolitics which has been dominated by the United States and its western allies with not even a dissenting voice being heard except occasionally from China and Iran and Venezuela. The once vociferous Third World which included most of the non aligned countries has virtually ceased to be and exists only in name. Medvedev's address was a lone but clear voice pint pointing where the blame should be laid down.

Third World mute

The oil crisis has affected every country on the planet. But few have dared to indentify the causes that have led to this crisis which is continuing. Some attribute it to demand exceeding supply-India and China's burgeoning economies guzzling oil and unprecedented rates. If that was the cause why is it that the main old producers like Saudi Arabia and the Gulf States-all staunch western allies-not being pressurised to step up oil production? Or is it speculation by oil companies and wheelers dealers? Who is pocketing the billions of dollars made from the profits that are being made from poor developing countries? All the pundits in economics or international relations can't point out to the causes that are precipitating this havoc.

Whipping boys

India and China have turned out to be the whipping boys. The meaning of 'whipping boys' in this context becomes clearer when we go to the origin of the term A whipping boy was a boy who was kept to be whipped when a prince deserved chastisement. Edward V1 and Charles 1 when princes were provided with whipping boys and so was Henry V1 of France (Ref: Brewers Dictionary of Phrase and Fable).The 21st century's whipping boys China and India are being whipped not only for the fuel crisis but global warming and the food crisis. Indians and Chinese are eating much more than before, it is said. The American media is showing affluent Chinese and Indian youth gobbling up delicacies in food courts to show the cause for the food crisis. Does the western media realise that only a miniscule of the two billion in these countries can afford eating at places such as food courts and the hundreds of millions still can't afford a meal a day?

The affluent west having gone through the process of industrialisation for over two centuries sending up billions of tons of raw industrial gases into the atmosphere now wants curbs placed on carbon dioxide emissions in developing countries. How much of global warming would the West have caused till this phenomenon came to be identified? Till the late 1950s visibility in London even during the day was difficult due to smog and coal dust in the air.

Himalayan glaciers

Nonetheless both India and China have admitted their contributions to this kind of pollution and have to take drastic measures in their own interests. The Himalayan glaciers from which the main rivers of South and South East Asia- Indus, Ganges, Brahmaputra, Mekong, Yangtze and Yellow Rivers- originate is fast melting. An estimated 1.3 billion people survive on these mighty rivers.

No doubt the interest on global warming is not solely motivated in the west by environmental concerns. The rapidly growing industries are threatening western markets and a slowing down of the pace of industrialisation will have its obvious benefits.

Canning