ITC Secretary-General Pamela Coke-Hamilton stated that the current global economic order is no longer valid and called for countries like South Korea to lead the change. She emphasized Korea's role in bridging the gap between developed and developing nations and highlighted its development model as a lesson for others.
Russian President Vladimir Putin told attendees at the St. Petersburg Economic Forum that he sees no point in a face-to-face meeting with Zelenskyy and dismissed the Ukrainian leader's letter proposing talks in a third country. Putin asserted Moscow would achieve its goals in Ukraine, even as Ukrainian drones strike deep into Russia and the economy shows signs of strain. Analysts warned of a diplomatic deadlock and possible escalation, while a White House official participated in a cultural-diplomacy roundtable.
With global attention fixed on the US and Iranian shipping blockades in the Strait of Hormuz and how many vessels have traversed the critically important waterway, a leading Chinese investment bank has been calculating the long-term gains and losses and how they could rewrite the global economic order. The United States was on the horns of a dilemma over the strait that might herald an acceleration of Washington’s strategic retreat and its increasingly transactional relationships with other...
