Iran's president is blaming the West for the global economic meltdown, and says capitalism is collapsing.
President Mahmoud Ahmadinejad gave an opening speech at the Economic Cooperation Organization summit in Teheran on Wednesday. The summit involves 10 regional countries including Iran, Afghanistan, Turkey, Pakistan and Uzbekistan.
Ahmadinejad called for a new economic system to replace capitalism, based on respecting human values. He also called for greater regional economic integration.