World economy must get rid of excessive dependence on USA - expert

YEKATERINBURG, August 9 (Itar-Tass) - The world economy must get rid
of its excessive dependence on the USA and must become really multi-polar,
a tendency towards which is obvious already now, experts believe.
"The world economy must be based on various criteria, and must not
depend on one superpower, such as the United States, on its budget, on
spending of its housewives," the director general of the National Rating
Agency, Viktor Chetverikov, told Tass on Monday.
"This is an outdated approach," he said, adding that a multi-polar
currency basket would be correct.
According to Chetverikov, the situation that develops in the USA at
the moment - the growth of public debt, lowering of its credit rating,
confirms the forecast that the centre of influence in the world economy is
shifting from America towards other countries, for example the BRIC group
of states.
This will entail the creation of additional reserve currencies, and
possibly additional financial instruments, he said.
According to the expert, the situation that develops on the world
financial markets will not change quickly, and the decline will not end
soon. However, he believes one must not fear the repetition of the crisis
of 2008.
"At that time it was a blow on growing economies. Now all major
companies, banks, funds and investors were ready for such the development
of events in the USA, in Europe, this situation has been discussed for
already a year and has not come unexpected for the market," the head of
the National Rating Agency said.