Latest Articles about Economics
Breaking Western Monopolies: Chinese Military Innovation Bearing Fruit
On July 10, several Chinese news outlets announced that China had taken an important step towards achieving “self-reliance” (zizhu baozhang) through the “breaking” (dapo) of a foreign monopoly on military-use computer airborne systems (People’s Daily Online, July 10). Many details of the two real-time operating... MORE
South Stream Not Bankable After Fresh US Sanctions
Fresh sanctions against Russia imposed by the Barack Obama administration on July 16 will likely hamper Gazprom’s ability to finance the South Stream natural gas pipeline. Among the sanctioned entities are two energy companies, Rosneft and Novatek, and two financial institutions—Russia’s third-largest lender, Gazprombank, and... MORE
US Seen as Archenemy as New Sanctions Hit Russia
On July 17, the United States imposed additional sanction to punish Russia for continuing to support the separatist rebellion in the far eastern Donbas region of Ukraine. Russia’s biggest oil company, Rosneft; major natural gas producer Novotek; two major banks, Gazprombank and VEB; eight major... MORE
Seoul Seeks Central Asian Partners
During her week-long visit last month (June 2014) to Central Asia, South Korean President Park Geun-hye made further progress in advancing her “Eurasia Initiative,” which she announced in October 2013. The Initiative aims to deepen South Korean ties with Europe through Russia, China and Central... MORE
Kazakhstani-Russian Space Cooperation Set to Shrink in 2015
Apart from closer economic and trade ties, the Eurasian Economic Union (EEU), which its three founding members—Russia, Kazakhstan and Belarus—expect to launch as early as next January, also foresees increased cooperation in the scientific field, with an emphasis on innovations. While Russia and Kazakhstan have... MORE
Is Georgia getting closer to the EU, but farther from NATO?
On June 27, Georgian Prime Minister Irakly Garibashvili signed a historic Association Agreement between Georgia and the European Union (EU). People in Tbilisi celebrated this event as a national holiday. Political forces in the country unanimously agree on the necessity and benefits of association with... MORE
Chinese High Speed Rail Leapfrog Development
Since serious Chinese planning of high-speed rail (HSR) networks began in the 1990s under the guidance of the Ministry of Railways (MoR), rail planners have sought to create independently trademarkable Chinese brands capable of competing in global markets in addition to confronting domestic transport inefficiencies... MORE
Kremlin Pushes Dagestani Billionaires to Invest in Dagestan
The return of controversial billionaire Suleiman Kerimov to Dagestan was this month’s big news in the republic. International Airport Makhachkala, a company affiliated with Kerimov, acquired a majority stake in the Makhachkala airport for $9 million and is expected to finalize its acquisition later. The... MORE
South Stream Brings Down Bulgaria’s Government
Bulgaria is heading for new parliamentary elections as the troubled governing coalition fell apart one year into its mandate. This development was not caused by the daily anti-government protests that have continued for over a year. Indeed, the ruling elite has paid little attention to... MORE
Ukraine’s Banking Sector in Dire Straits as War Continues
The National Bank of Ukraine (NBU) has decided to liquidate two large domestic banks. On June 11, the NBU said it would liquidate Brokbiznesbank (bank.gov.ua, June 11), and on June 16, it named Forum (bank.gov.ua, June 16). All in all, seven Ukrainian banks have sunk... MORE