The US credit system is not sustainable: it had once brought the US to a major economic crisis and will do it again. The Eurozone has a much better economy, and therefore European countries should be oriented towards China and Russia, the economic expert claimed.
"The economic fundamentals of the Eurozone and its countries are much more substantial than those of the US, Japan or Great Britain," Hellmeyer said.
According to the expert, the economic situation in Europe is encouraging while the United States faces a lot of problems and can be called the "sick man" of the global economy.
"There have been no reforms in the US since 2008," Hellmeyer said. "It just repeats the economic model that had led to the crisis in 2008/2009."
According to Hellmeyer, the world is now facing the biggest dispute over power since 1945. The US is trying to consolidate its western sphere of influence to respond to the challenge posed by emerging economies, which account for 56% of global economic output, 85% of world population and 70% of international foreign exchange reserves.
At the same time, EU politicians are elected to represent Europe’s interests and, thus, should pursue a policy independent from the US. The EU should participate in large-scale projects including those proposed by Russia and China and stop anti-Russian sanctions as soon as possible.
