Latest Articles about Economics
Gazprom to Reduce Gas Transit to Europe on Ukraine-Slovakia Route
Slovak Prime Minister Robert Fico and Gazprom Vice-President Aleksandr Medvedev have launched talks about creating a Slovak-Gazprom joint enterprise. They announced on January 23 in Bratislava that the proposed new entity would compete against SPP, a company that is owned jointly by the Slovak state... MORE
Faced with a Crippled Economy, Putin Strikes a Conciliatory Tone at Davos
The annual World Economic Forum in Davos was a somber event this year. Its trademark bragging and success stories and the schmoozing among the rich-and-famous were overtaken by the scale of damage from the global crisis that the forum had confidently talked out of existence... MORE
Turkey and the IMF Take a Break to Review Remaining Disagreements
After 18 days of intense negotiations on a new financial package, an International Monetary Fund (IMF) mission failed to reach an agreement with Turkey and left Ankara on Tuesday. Mehmet Simsek, the minister of state responsible for the economy, told reporters on Monday that the... MORE
Bakiyev Stifles Small and Medium Businesses, Further Angers the Public
Last December Kyrgyz President Kurmanbek Bakiyev amended the tax code, significantly increasing taxes for small and medium-sized businesses. A month later the effect of the new tax is being acutely felt, with numerous businesses shutting down and unemployment rising. In the meantime, the number of... MORE
Russia’s Sinking Economy and Wandering Politics
The high-intensity but low-yield gas war with Ukraine allowed the Russian leadership to engage in the bargaining and blackmailing that it thrives on. Now that Prime Ministers Vladimir Putin and Yulia Tymoshenko have struck a deal, which has left most observers puzzled about what the... MORE
Commodity Flux and China’s Africa Strategy
The commodity price decline has revealed to the Africans something of the nature of their friends. During the commodity price boom, China invested massively in Africa seeking to lock up as many raw materials as possible. Some in academia spoke confidently of China having a... MORE
CCP Provincial Committees’ Reports Highlight Growing Wealth and Urban-Rural Inequality
According to the provincial Chinese Communist Party's (CCP) second plenary committees' work report collected by Guangdong-based newspaper Nanfang Daily, the gap between the rich and poor is growing wider in many provinces of China. Among China’s 31 provinces (including municipalities and autonomous regions), 26 provinces... MORE
Guest Commentary: Russian “Security Net” Must Not Be Abandoned
In December 2008, when these lines were written, it was difficult to understand the prospects of the world and domestic financial-economic crisis. For Russia, however, the current turbulence may be useful, because it offers a good pretext for changing many elements of social policy to... MORE
Belarus Devalues Its Currency
On January 2 residents of Belarus learned that the national currency—the Belarusian ruble (known locally as the zaichik or hare)—had been devalued by 20.5 percent against the US dollar, falling from around 2,200 to 2,650. In November and December the administration of President Alyaksandr Lukashenka... MORE
Chinese Inroads in DR Congo: A Chinese “Marshall Plan” or Business?
Since achieving independence five decades ago The Democratic Republic of Congo (DRC) has been ravaged by a dictatorship, war and political strife. Although large in territory and rich in mineral and other precious raw materials, the DRC is a failed state that has been seemingly... MORE