Latest Articles about Economics

Russia’s Import Substitution Plan Faces Harsh Reality

On August 4, Russian Prime Minister Dmitry Medvedev decreed the establishment of a state commission on import substitution. This new entity within Russia’s executive branch aims to alleviate the country’s dependence on the import of goods and services from abroad and to spearhead growth in... MORE

Ukraine Introduces Sanctions Against Russian Citizens, Companies

On September 16, Ukrainian President Petro Poroshenko signed a decree introducing sanctions against 105 firms and 388 individuals, mainly from Russia, for supporting the annexation of Crimea and the war in the eastern Ukrainian region of Donbas (President.gov.ua, September 16). The decree came into effect... MORE

Kazakhstan’s Oil Dependence Jeopardizes Domestic Stability

On August 20, the National Bank of Kazakhstan (NBK) came forward with a surprise announcement. The central bank’s chairman, Kairat Kelimbetov, made official the immediate shift to a floating exchange rate of the tenge, the national currency. Since its introduction into circulation in late 1993,... MORE

The Park-Xi Friendship and South Korea’s New Focus on China

While the 12,000-troop parade at China’s September 3 ceremony commemorating the 70th anniversary of the end of WWII was a striking sight in Beijing, those who closely follow China’s relationship with the Korean Peninsula may have watched the guests of President Xi Jinping just as... MORE

China, Belarus Deepen Ties

Two countries on opposite ends of Eurasia are drawing closer, courtesy of the skein of railways slowly snaking across this massive region in the form of an evolving “Iron Silk Road.” While attending Chinese commemorations of the end of World War II in the Pacific,... MORE