[lbo-talk] Kvetching, was Sarkozy, France etc

Dennis Redmond dredmond at efn.org
Tue May 8 16:20:55 PDT 2007

On Tue, May 8, 2007 3:48 pm, Doug Henwood wrote:

> My guess is that a lot of the Russian boom is the result of high oil
> prices, amplified by the credit inflows the banker suggested. Has there
> been much investment in real industry?

Hmm, I was trolling for stats the other day, and if memory serves aright, Russian investment is up from 11% GDP in 2000 to 19% today. Obviously they need to invest more of those currency reserves, but the growth is real, broad-based and more than just energy-rents.

I think Putin's post-Presidential role is pretty clear: CEO of Russia's developmental state.

-- DRR

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