Thursday, December 09, 2010

Russia in trouble

The Economist has an article about Russia and its corruption. The bottom line is that Russia is more and more consuming and less and less investing and that that is unsustainable. So they forecast a breakdown - but think it still may take quite a while.

The article sees Putin as obsessed with order: a man of the 1990s whose capacities becomes increasingly irrelevant. Medvedev is a more modern man but he is rather weak.

It looks to me that Russia once again needs economists. One can only hope for the country that this time they will choose better and more mainstream economists and not the kind of extremists that destroyed the country in the early 1990s.

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