Latest Articles about Economics
Russia’s Economy Deteriorates as Putin Focuses on Squabbles Among Siloviki
President Vladimir Putin is not taking a summer vacation. He has instead maintained a busy schedule of meetings with government officials and regional governors. But his grip on the steering wheel of Russia’s foreign and domestic policy is far from steady. The heavily censored Russian... MORE
Defense Minister Shoigu Reports on Russian Military Modernization
In the fourth year of leading the Russian Ministry of Defense, Sergei Shoigu has demonstrated a unique style of leadership, marked by routine snap inspection exercises, enhancing the image of the Armed Forces, and restoring the confidence of the officer corps, while pushing ahead with... MORE
Beset by Cash Flow Problems, Russia and Kazakhstan Consider Leasing Baikonur Cosmodrome to Other Countries
Kazakhstan’s Baikonur Cosmodrome is the oldest and largest space launch facility in the world, built in 1955 as a test range for the Soviet Union’s first intercontinental ballistic missile (ICBM), the R-7. It covers 2,600 square miles, measuring 47 miles from north to south and... MORE
Minsk Props up Currency, Diversifies Foreign Policy
The Belarusian ruble was re-denominated on July 1. Over the next six months, the banknotes in circulation will be replaced with new banknotes and coins in proportion of 10,000 old Belarusian rubles per 1 new Belarusian ruble. Thus, the legendary number of zeros on Belarusian... MORE
Political Turmoil Erupts in Abkhazia as Moscow Reduces Its Financial Support
Late on July 10, the head of Abkhazia’s Central Electoral Commission, Batal Tabagua, admitted that a mere 0.99 percent of registered voters had cast a ballot in the referendum on holding early presidential elections in the republic (Gazeta.ru, July 10). The referendum in Abkhazia reflected... MORE
New Data Points to Worsening Economic Slump in Russia
During his appearance at this year’s St. Petersburg Economic Forum (June 16–18), President Vladimir Putin declared that “Russia has managed to resolve the most urgent problems in the economy” (Kremlin.ru, June 17). But just one week later, the Russian Ministry of Economy published new figures,... MORE
Belarusians Debate Their Development Path
The Fifth All-Belarusian People’s Assembly (ABPA) opened in Minsk, on June 22. The two-day gathering brought together 2,500 delegates representing managers from all levels of power along with publicly acclaimed “rank-and-file” workers, scientists, students, and so on (Belta.by, June 22). It is debatable why there... MORE
Businessmen in North Ossetia Politically Resurgent as Moscow’s Ability to Finance Republic Wanes
The financial crisis in the North Caucasus is gradually intensifying, as the large debt of its republics is exacerbated by falling revenues (see EDM, June 22, 2015). Paradoxically, the economic crunch first of all affects the region’s “quiet” republics. Moscow prioritizes financial support for those... MORE
China Relocating Heavy Enterprises to Kyrgyzstan
Beijing and Bishkek have started negotiations on relocating 40 Chinese factories and plants to Kyrgyzstan. While Kyrgyzstan’s government says that this will help reindustrialize the country, there are concerns in Kyrgyz society that such plans will exacerbate Chinese expansion domestically. The government in Bishkek has... MORE
China’s Sinking Port Plans in Bangladesh
A key link in China’s Maritime Silk Road (MSR) suffered a setback in February when Bangladesh’s Awami League (AL) government shelved plans for construction of a deep-sea port at Sonadia, south of Chittagong. Bangladesh is an important participant in China’s “One-Belt, One-Road” (OBOR) initiative. An... MORE