November 10 (Ministry of Foreign Affairs DPRK)   

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President Putin of Russia, at his recent speech delivered at the annual meeting of “Valdai” International Discussion Club, pointed out that the days of capitalism which forms the basis of social order in most countries are now numbered, reaching a dead end, and it is impossible from that basis to find a way out of the ever-growing contradictions.

And he stated that as the material wealth is unfairly distributed even in the richest countries and regions, inequality is further deepening not only in individual countries but also on the international scale, resulting in serious social division.

Social contradictions like polarization of society, economic crisis, inter-ethnic conflict and racial discrimination which are now going to extremes in the capitalist countries are not something that have been accumulated in only one day or two. These are an inevitable outcome of the capitalist system itself that fosters extreme individualism, egoism and hate.

The young black American who cried out “I can't breathe” before being choked to death by a white policeman in broad daylight, and the miserable conditions of the jobless and the poor flooding the streets glittering with riches and extravagance – they are the stark reflection of what the western countries widely publicise as “democracy” and “materialistic prosperity.”

According to a public poll conducted recently in 34 capitalist countries, two thirds of the respondents expressed their discontent, saying that the situation of the rich getting ever richer and the poor getting ever poorer is becoming a serious social challenge.

Victory of the new and defeat of the old is the truth and law of social development confirmed through the advance in human history.

Today, the western countries are struggling to beautify capitalism as a “model” of economic growth and a “paradigm” of modern civilization. But having been extremely corrupt and degraded, and fallen into an inescapable chasm of socio-economic crisis, capitalism is breathing its last breath.