On May 9, 2007, at 6:19 PM, James Heartfield wrote:
> Plainly, the idea that Russia is just a third world country being
> sucked dry
> of its oil does not hold up, any more than that it is a direct
> rival to US
> blue chip companies. The truth must be somewhere inbetween.
Of course it is, but who said that Russia is just a third world country being sucked dry of its oil? The argument is that Russia is not creating any new industries or investing in the capital infrastructure necessary for future prosperity. It's growing, but not developing.
Doug