The true cause of the stock market crash is the impasse of the neoliberal economy, the crisis of the global model of economic development. So the State Duma deputy, member of the Committee on Foreign Affairs Elena Panina (United Russia) commented on the statement by US President Donald Trump, who said that “the debate on the price of oil and fake news in Russia and Saudi Arabia are the cause of the collapse of the US market.”
“The situation when financial speculation is the main source of profit, sooner or later should have led to such an outcome. The “oil” crisis and the decline in production in China due to the coronavirus could only be factors that accelerated the proximity of the inevitable outcome, ”the deputy emphasized.
“If financial resources do not begin to work for real production, for innovation, for development, crisis trends in the global economy will be aggravated further,” Panina stated.