Russian PM says cheap labor cannot trigger quality econ rise

SOCHI, Dec 1 (PRIME) -- Possibilities of a quality economic growth on the back of cheap labor and raw material exports are almost over, making international high-technology partnership necessary needed, Prime Minister Dmitry Medvedev said at a meeting with the prime ministers of the Shanghai Cooperation Organization on Friday.

“We need to develop cooperation in the sphere of innovations. The world is changing fast, entering a new technological structure, including regulation of global processes,” Medvedev said.

“We understand clearly that opportunities of quality growth only with the help of cheap labor and raw materials exports, they are almost over.”

He said that the countries of the Shanghai Cooperation Organization have enough potential to contribute significantly to global progress.

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