> 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