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    Russian Economy General News: #7

    JohninMK
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    Post  JohninMK on Sun Nov 20, 2016 12:41 am

    This will go down a storm with the Russia haters in the US

    LIMA (Sputnik) – The Russian Direct Investment Fund (RDIF) multiplied investments in the project of Hyperloop high-speed transport system, RDIF CEO Kirill Dmitriev said on Saturday.

    “Even with the United States we have news that we multiplied our investments in Hyperloop,” Dmitriev told journalists. He said that the decision was made during the last round of attracting investments, in which the United Arab Emirates’ company DP World was also taking part. “RDIF also sees potential for developing joint projects with US investors and holds consultations on restoring cooperation with US partners,” Dmitriev added.

    The Hyperloop concept was proposed by US billionaire Elon Musk in 2012. The technology provides for the high speed transportation of passengers and goods in tubes, in which light aluminium capsules are propelled by linear induction motors and air compressors.


    Read more: https://sputniknews.com/science/201611191047631993-russian-investment-fund-hyperloop-project/
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    Post  AlfaT8 on Sun Nov 20, 2016 5:07 am

    JohninMK wrote:This will go down a storm with the Russia haters in the US

    LIMA (Sputnik) – The Russian Direct Investment Fund (RDIF) multiplied investments in the project of Hyperloop high-speed transport system, RDIF CEO Kirill Dmitriev said on Saturday.

    “Even with the United States we have news that we multiplied our investments in Hyperloop,” Dmitriev told journalists. He said that the decision was made during the last round of attracting investments, in which the United Arab Emirates’ company DP World was also taking part. “RDIF also sees potential for developing joint projects with US investors and holds consultations on restoring cooperation with US partners,” Dmitriev added.

    The Hyperloop concept was proposed by US billionaire Elon Musk in 2012. The technology provides for the high speed transportation of passengers and goods in tubes, in which light aluminium capsules are propelled by linear induction motors and air compressors.


    Read more: https://sputniknews.com/science/201611191047631993-russian-investment-fund-hyperloop-project/

    Ughm....yea about that hyperloop. Suspect

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    Post  Austin on Sun Nov 20, 2016 5:58 pm

    Russian Coal Fights For Survival

    http://oilprice.com/Energy/Energy-General/Russian-Coal-Fights-For-Survival.html
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    Post  miketheterrible on Sun Nov 20, 2016 8:31 pm

    Austin wrote:Russian Coal Fights For Survival

    http://oilprice.com/Energy/Energy-General/Russian-Coal-Fights-For-Survival.html

    Your article contradicts itself.

    Barring large structural reforms and systemic privatization, centralized spending and planning will have a huge impact on manufacturing figures. Russian steel is most competitive when coal prices are low, which is a way off as the market adjusts to changing supply-demand dynamics in Asia. Russia imports a quarter of Kazakhstan’s coal production because it is cheap. Kazakhstan’s production is projected to grow due to investment from India and China, a blow to Russian firms fighting to preserve market share.

    If they are worried that lower prices will force the closure of mines, but in same article states that the Russian steel companies rely on cheap coal from Kazakhstan  to make cheap steel, but won't be able to since prices will go up due to Chinese and Indian investments; wouldn't that mean it will keep the Russian mines working quite well since it will be cheaper to use them over Kazakhstan coal in the future? In that case, increasing demand for local coal to produce needed materials?

    Seems to me the writer of that article is confused as to the pros and cons and became a contradiction.

    Even stronger production figures on the domestic market may not be enough as natural gas consumption in Russia’s east will alleviate the sinkhole that Gazprom’s China projects have thus far been.

    Statement above doesn't even make sense. What sinkhole is this individual talking about? Power of Siberia pipeline is my guess and I do not know how that is a sinkhole since the project isn't even done yet. It won't be for a few more years. Something cannot be a sinkhole if it is a JV and it hasn't even begun operation. It would be a sinkhole if it lead to nowhere but that isn't the case with power of Siberia.

    Article smells like it was written by an amateur or someone with an agenda. Won't change a thing though
    kvs
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    Post  kvs on Sun Nov 20, 2016 11:54 pm

    Another trollish post by Austin with a liberast propaganda hit piece on Russia. The sky is always falling when it comes to Russia.
    But wait a few weeks and all the chicken little hysterics are totally forgotten.
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    Post  miketheterrible on Mon Nov 21, 2016 3:36 am

    kvs wrote:Another trollish post by Austin with a liberast propaganda hit piece on Russia.   The sky is always falling when it comes to Russia.
    But wait a few weeks and all the chicken little hysterics are totally forgotten.

    Austin didn't write the article. There is a form of objectivity and worth while discussion on forums regarding such content, regardless how inane it is. Only because it is good to talk about how idiotic it is which then Austin or others who do not know exactly the current situations, can learn from and even spread the news about how stupid such articles are for others who may not know as well.

    Stupid as they may be, worth discussing to break down the article and prove how terrible it is.
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    Post  Austin on Tue Nov 22, 2016 3:39 pm

    Glazyev compared the state of the Russian economy with a heart attack
    25



    Advisor to the President of Russia Sergey Glazyev compared the state of the Russian economy with myocardial infarction, speaking at a forum of the Financial University "Traps" new normality "."

    "As it was easy to foresee, and we have already talked about this as soon as monetary authorities opted for the liberation of the ruble to float freely, immediately we got a jump devaluation, inflationary shock, which still can not recover. And our macroeconomic system is similar to patients with myocardial infarction. You see fluctuations (eyes showed a slide with a comparative chart of volatility of currencies of different countries -. RNS). No country in the world such records he has never seen, to the volatility of the national currency has been so high. It is twice the nearest to us Turkey on this indicator. Devaluation - we also set records, including, among oil-producing countries, "- he said.


    According to Glazyev, the transition to a floating exchange rate of the ruble was "an exotic novelty."

    "When the central bank began raising interest rates, economic growth will automatically began to stall. And in the end we found ourselves trapped in stagflation, which is characterized by both high inflation, which was caused, and continues to generate rate fluctuations, and, on the other hand, rising interest rates, which put the company in a very unpleasant situation ", - summed up the eyes.


    In 2015, Russia's GDP fell by 3.7%, inflation rate was 12.9%. According to the Ministry of Economic Development forecast to slow to 0.6% this year, the economy recession and inflation - to 5.8%. Russia finally moved to a floating exchange rate in November 2014. In mid-December amid a sharp drop in oil prices and the ruble exchange rate of the Central Bank decided to raise its key rate by 6.5 percentage points - to 17%. Currently, the rate is 10%.


    https://rns.online/finance/Glazev-sravnil-sostoyanie-rossiiskoi-ekonomiki-s-infarktom-2016-11-22/
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    Post  Austin on Tue Nov 22, 2016 3:41 pm

    At the end of the year in the Reserve Fund will be 1.1 trillion rubles


    TASS / Vedomosti


    Over the past two years, Russia used 4.7 trillion rubles. Reserve Fund, at the end of the year the fund size will be 1.1 trillion rubles. As reports TASS, is in the State Duma, said Finance Minister Anton Siluanov. He presented the draft budget for 2017-2019 biennium. before its consideration in the first reading. According to him, the fund used to finance the increased budget deficit.

    In October, First Deputy Finance Minister Tatyana Nesterenko requested the State Duma to allow the agency to spend an additional 1 trillion rubles. from the Reserve Fund. There are risks that the money from the sale of state-owned "Rosneft" (703.5 billion rubles.) Arrive only in January, when the official has explained. It was also reported that the total deficit for financing in 2016 from the Reserve Fund is planned to spend 2.1 trillion rubles.
    GunshipDemocracy
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    Post  GunshipDemocracy on Tue Nov 22, 2016 11:07 pm

    AlfaT8 wrote:
    zg18 wrote:Russian CB purchased 40.4 metric tons of gold in October, bringing official total reserves to 1583.2 tons.


    http://www.brecorder.com/markets/commodities/europe/328655-russian-gold-reserves-post-large-monthly-gain-to-509mn-oz.html

    This bolded part means CB gold accumulation in previous years was much higher than officially reported, real reserves could be anywhere between 2500-3500 tons. I don`t expect they will tell real numbers, for now.

    It's a bloody gold rush, is there gonna be some sort of economics collapse soon or something???

    meeh but incidentally Putin´s first armament plan was to end in 2020 Smile
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    Post  GunshipDemocracy on Tue Nov 22, 2016 11:38 pm



    Austin wrote:At the end of the year in the Reserve Fund will be 1.1 trillion rubles


    But reserves are all the time around 400 bln $ I do not understand why this propaganda of fear?



    Media: Russia has earned in 2016 400 billion rubles due to the growth of oil prices



    OSCOW, November 17. /TASS/. Russia in 2016, earned 400 billion rubles ($6 billion), due to higher oil prices, which provided talks on the freezing of oil production from countries - members of OPEC.

    The Secretary General of OPEC predicts the end of the period of low oil prices
    On it informs Agency Bloomberg , citing sources familiar with the calculations of the Russian government.
    So, the statements of Russia's readiness to freeze the production led to a rise in world oil prices from $27 in January 2016 to $44 per barrel for the year on average.
    Rising prices combined with increased production has led to increasing state revenues by 400 billion rubles to 700 billion rubles., noted by the source Agency.
    The next OPEC summit, which just may be agreement to limit oil production, will take place on November 30 in Vienna.
    The very same agreement that such measures are necessary to stabilize the prices of raw materials has been achieved by the countries of cartel at a meeting in Algiers in September of this year. But yet to develop a "road map" to restrict production failed.


    Подробнее на ТАСС:
    http://tass.ru/ekonomika/3791367
    miketheterrible
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    Post  miketheterrible on Wed Nov 23, 2016 2:26 am

    GunshipDemocracy wrote:

    Austin wrote:At the end of the year in the Reserve Fund will be 1.1 trillion rubles


    But reserves are all the time around 400 bln $ I do not understand why this propaganda of fear?



    Media: Russia has earned in 2016 400 billion rubles due to the growth of oil prices



    OSCOW, November 17. /TASS/. Russia in 2016, earned 400 billion rubles ($6 billion), due to higher oil prices, which provided talks on the freezing of oil production from countries - members of OPEC.

    The Secretary General of OPEC predicts the end of the period of low oil prices
    On it informs Agency Bloomberg , citing sources familiar with the calculations of the Russian government.
    So, the statements of Russia's readiness to freeze the production led to a rise in world oil prices from $27 in January 2016 to $44 per barrel for the year on average.
    Rising prices combined with increased production has led to increasing state revenues by 400 billion rubles to 700 billion rubles., noted by the source Agency.
    The next OPEC summit, which just may be agreement to limit oil production, will take place on November 30 in Vienna.
    The very same agreement that such measures are necessary to stabilize the prices of raw materials has been achieved by the countries of cartel at a meeting in Algiers in September of this year. But yet to develop a "road map" to restrict production failed.


    Подробнее на ТАСС:
    http://tass.ru/ekonomika/3791367

    Because that money is hidden elsewhere and is in control by the central bank and Sberbank. Hopefully Gref will be the next one (along with Kudrin) to get arrested with their pal Alexei Ulyukayev and all will be good.
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    Post  kvs on Wed Nov 23, 2016 3:54 am

    I see the same trolling from Austin again.  This BS about the "reserve fund" running out has been beaten to death in this thread.  But
    like a broken record Austin keeps posting the same shit over and over.  

    Russia does not run on its reserve funds for fuck's sake.  Enough already.   One of the small reserve funds that was intended for this
    purpose has been drawn down to reduce the size of the deficit.   So when it runs out the deficit will jump.  But the issue is that the
    deficit is a function of the tax revenues and don't run around claiming that from 2014 until the end of time Russia's tax revenues will
    keep decreasing.   It is almost a given that in 2017 they will increase.   Hence the deficit will be reduced aside from the reserve fund.
    In 2018 the tax revenues should be even higher due to the increasing GDP growth, so when this small reserve fund is depleted it
    will not be needed.   Watch as this reserve fund is refilled in the coming years.
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    Post  Rmf on Wed Nov 23, 2016 4:46 am

    so? usa had high interest rates ,over 18% thats not heart attack Usa lived on and progressed..... http://cc8cade79959f162f888-639182b8dfd74297a8aba5936544399d.r17.cf1.rackcdn.com/content/pic35b7ee3a93c9e3c7e7d667f148df930e.png
    kvs
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    Post  kvs on Wed Nov 23, 2016 5:04 am

    Rmf wrote:so? usa had high interest rates ,over 18% thats not heart attack Usa lived on and progressed..... http://cc8cade79959f162f888-639182b8dfd74297a8aba5936544399d.r17.cf1.rackcdn.com/content/pic35b7ee3a93c9e3c7e7d667f148df930e.png

    The more relevant figure that was already posted is the deficit percentage of GDP for the UK. It was over 10% for many years. Yet
    the 3% GDP deficit in Russia is some end of the world condition.

    http://www.oecd-ilibrary.org/economics/government-deficit_gov-dfct-table-en

    United States
    2008: -7.2
    2009: -12.8
    2010: -12.2
    2011: -10.7
    2012: -9.3
    2013: -6.4
    2014: -5.8
    2015: -4.6

    Russian Federation
    2008: +7.3
    2009: -4.0
    2010: -1.2
    2011: +4.2
    2012: +0.5
    2013: -0.5
    2014: 0.0
    2015: +0.2

    https://sputniknews.com/russia/201610011045900948-russia-economy-budget-deficit/

    3.7% deficit in 2016. Oh the horror, oh the humanity!
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    Post  Project Canada on Wed Nov 23, 2016 5:16 am

    Russia with all its natural resources can also be a Manufacturing powerhouse, alot of work has been made to improve this sector of the RF economy, but it seems there are still lots of areas that are not given attention, for Example, since there is a Booming infrastructure development in Russia, one of the things that entered my mind is Elevators. But as it turns out, there are no local companies in Russia that manufactures Elevators, meanwhile there is a company in neighboring Finland (Kone) that has been building elevators for many years and has exported their products to many countries! Now that Russia has embarked on a policy of localization, maybe its time to setup local companies that build products for the many construction projects going on in Russia. Aside from elevators, Russia needs their own TV brands, Computer brands, Cell phone brands, and many more civilian consumer brands. Why does it seem so difficult though?
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    Post  kvs on Wed Nov 23, 2016 6:00 am

    Project Canada wrote:Russia with all its natural resources  can also be a Manufacturing powerhouse, alot of work has been made to improve  this sector of the RF economy, but it seems there are still lots of areas that are not given attention, for Example, since there is a Booming infrastructure  development  in Russia, one of the things that entered my mind is Elevators. But as it turns out, there are no local companies  in Russia that manufactures Elevators, meanwhile there is a company in neighboring Finland (Kone) that has been building elevators  for many years and has exported their products  to many countries! Now that Russia has embarked on a policy of localization, maybe its time to setup local companies  that build products for the many construction  projects  going on in Russia. Aside from elevators, Russia needs their own TV brands, Computer brands, Cell phone  brands, and many more civilian consumer brands. Why does it seem so difficult though?

    The lack of new business formation in Russia is directly related to the loan shark interest rates set by the CBR. Aside from being an
    important element in daily business operations, interest rates also impact the formation of new businesses. Russia does not have
    a large stock market where businesses can raise capital. It still needs a functional banking sector to do this. Eventually the venture
    capital market will diversify but one has to start somewhere and reach various milestones first. It is development after all.

    It seems that now there is a move to clean house in Russia from these monetarist 5th columnists who are sabotaging Russia's
    economy. I hope this process is quick and vicious. Let NATO haters bleat their tired hate since it makes no difference to Russia.
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    Post  miketheterrible on Wed Nov 23, 2016 6:43 am

    There is "Russian Lift" whom assembles elevators from Chinese company.  I think there are others as well, but not well known like Finnish company.

    You also have to be specific about branding. Russia has a few brands of computers that are quite big, like Kraftway: http://kraftway.ru/en/ They even make their own brand of motherboards. Cellphones there are a couple of brands as well. RoverPC is another brand of computers as well as cell phones. Highscreen as well is a known brand. TV brands are Polartv but Rubin seems to be gone I think. Samsung and LG has a plant in Chechnya region of Russia.

    Russia is going to have the Baikal ARM processor for future mobile devices and Elbrus processor is starting to gain some popularity in specific industries.
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    Post  GunshipDemocracy on Wed Nov 23, 2016 1:08 pm

    kvs wrote:
    The lack of new business formation in Russia is directly related to the loan shark interest rates set by the CBR.   Aside from being an
    important element in daily business operations, interest rates also impact the formation of new businesses.   Russia does not have
    a large stock market where businesses can raise capital.   It still needs a functional banking sector to do this.   Eventually the venture
    capital market will diversify but one has to start somewhere and reach various milestones first.   It is development after all.  

    It seems that now there is a move to clean house in Russia from these monetarist 5th columnists who are sabotaging Russia's
    economy.   I hope this process is quick and vicious.  Let NATO haters bleat their tired hate since it makes no difference to Russia.


    i second that but why oh why Vova lets CBR shiit on economy? I hope this is not due to his beliefs but some external factors we do not understand...







    miketheterrible wrote:There is "Russian Lift" whom assembles elevators from Chinese company.  I think there are others as well, but not well known like Finnish company.

    You also have to be specific about branding.  Russia has a few brands of computers that are quite big, like Kraftway: http://kraftway.ru/en/  They even make their own brand of motherboards.  Cellphones there are a couple of brands as well.  RoverPC is another brand of computers as well as cell phones.  Highscreen as well is a known brand.  TV brands are Polartv but Rubin seems to be gone I think.  Samsung and LG has a plant in Chechnya region of Russia.

    Russia is going to have the Baikal ARM processor for future mobile devices and Elbrus processor is starting to gain some popularity in specific industries.

    I wish Yota would become popular consumer electronics brand...would be nice. What is missing in Russia form my perspective is lack of money to small customer oriented hi tech enterpistes. Like werables, smartphones, gaming equipment, some brands that make  Russian products known.

    Guss first step is to send Chubais to vacations in Magadan mines.
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    Post  GunshipDemocracy on Wed Nov 23, 2016 1:20 pm

    Lads, morning funnies column for ya!



    Kudrin accused the Russian TV channels in unfounded anti-Western rhetoric
    According to the former Minister, the guests of many talk shows don't know how much business depends on foreign technologies


    http://www.interfax.ru/russia/537725?utm_source=mst_rd

    IN RUSSIA, 20:56, 19 november 2016
    Kudrin accused the Russian TV channels in unfounded anti-Western rhetoric
    According to the former Minister, the guests of many talk shows don't know how much business depends on foreign technologies


    Moscow. 19 Nov. INTERFAX.RU - head of the Council of the Center for strategic research (CSR) Alexei Kudrin said that anti-Western rhetoric on TV improves business relations of the country.

    "We hear and see anti-Western rhetoric, completely unfounded. I often see discussions on some talk show, and I wonder what these people do not know, today is the nature of business that most of the industry, including the military, depends on the importation of technology. Millions of contracts, which today is associated our country with the world," said Kudrin, speaking at the all-Russian civil forum on Saturday in Moscow.

    The former Finance Minister added that the business sector is also associated with human relationships in the professional community: professionals, businessmen.

    He stressed that "this does not correspond to the rhetoric that is present in a talk show on television".

    "Would we like to see these realities? We would like to learn its great benefits? In our country there is less geopolitical and military risks than the risks of technological and social backwardness. We have 4 times higher mortality rate than in neighboring Finland. This needs to be addressed, not the rhetoric," - said Kudrin.


    My opinion for this can be one: СМЕРШ
    GunshipDemocracy
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    Post  GunshipDemocracy on Wed Nov 23, 2016 2:23 pm

    kvs wrote:
    Rmf wrote:so? usa had high interest rates ,over 18% thats not heart attack Usa lived on and progressed..... http://cc8cade79959f162f888-639182b8dfd74297a8aba5936544399d.r17.cf1.rackcdn.com/content/pic35b7ee3a93c9e3c7e7d667f148df930e.png

    The more relevant figure that was already posted is the deficit percentage of GDP for the UK.   It was over 10% for many years.   Yet
    the 3% GDP deficit in Russia is some end of the world condition.

    http://www.oecd-ilibrary.org/economics/government-deficit_gov-dfct-table-en

    United States  
    2008:  -7.2
    2009: -12.8
    2010: -12.2
    2011: -10.7
    2012:  -9.3
    2013:  -6.4
    2014:  -5.8
    2015:  -4.6

    Russian Federation
    2008:  +7.3
    2009:  -4.0
    2010:  -1.2
    2011:  +4.2
    2012:  +0.5
    2013:  -0.5
    2014:    0.0
    2015:  +0.2

    https://sputniknews.com/russia/201610011045900948-russia-economy-budget-deficit/

    3.7% deficit in 2016.   Oh the horror, oh the humanity!

    Well Ruble is not a reserve currency, please bear it in mind. In general do not live beyond your means i smart idea. What bugs me is why Russia is so dependent on people with view a la Kudrin (western mythical investors, technologies they will not sell us technologies and we depend on them!!! - like you cannot develop on your own? ) - who are either interested in colonial status quo because of money they make. Or even worse - they´re mentally colonized...

    SMERSH in short Smile
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    Post  miketheterrible on Wed Nov 23, 2016 3:23 pm

    GunshipDemocracy wrote:Lads, morning funnies column for ya!



    Kudrin accused the Russian TV channels in unfounded anti-Western rhetoric
    According to the former Minister, the guests of many talk shows don't know how much business depends on foreign technologies


    http://www.interfax.ru/russia/537725?utm_source=mst_rd

    IN RUSSIA, 20:56, 19 november 2016
    Kudrin accused the Russian TV channels in unfounded anti-Western rhetoric
    According to the former Minister, the guests of many talk shows don't know how much business depends on foreign technologies


    Moscow. 19 Nov. INTERFAX.RU - head of the Council of the Center for strategic research (CSR) Alexei Kudrin said that anti-Western rhetoric on TV improves business relations of the country.

    "We hear and see anti-Western rhetoric, completely unfounded. I often see discussions on some talk show, and I wonder what these people do not know, today is the nature of business that most of the industry, including the military, depends on the importation of technology. Millions of contracts, which today is associated our country with the world," said Kudrin, speaking at the all-Russian civil forum on Saturday in Moscow.

    The former Finance Minister added that the business sector is also associated with human relationships in the professional community: professionals, businessmen.

    He stressed that "this does not correspond to the rhetoric that is present in a talk show on television".

    "Would we like to see these realities? We would like to learn its great benefits? In our country there is less geopolitical and military risks than the risks of technological and social backwardness. We have 4 times higher mortality rate than in neighboring Finland. This needs to be addressed, not the rhetoric," - said Kudrin.


    My opinion for this can be one: СМЕРШ

    not really funny since the guy is extremely ignorant while at same time has actual say. He may not be government anymore but now head of a top think tank in Russia that is shaping the economic structure of the nation. But he is also a sell out clearly indicated by the article. A real smart person would realise that you cannot rely on others for your economic development and your technical development. You also cannot compare either. Or you will be playing catch up for all eternity. Instead they need to develop in their own field and expand to re homology that works/fits them.

    Also, he might be oblivious to the fact that NATO is building forces right at Russia's borders and placing new missile systems. So there is indeed a major threat. The guy is extremely foolish to think otherwise.

    Why is he allowed to speak during these forums and events is beyond me. The all Russian front is a nationalist group more or less. Why did they let him speak their? Did Russians already forget how he ran off to the US after Medvedev and him and a falling out, and cry to his puppet masters?

    Russians still have a lot to learn on how to deal with such people in their country.
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    Project Canada

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    Russian Economy General News: #7 - Page 8 Empty Re: Russian Economy General News: #7

    Post  Project Canada on Wed Nov 23, 2016 4:10 pm


    Kudrin might need a small dose of polonium in his tea Cool
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    par far

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    Russian Economy General News: #7 - Page 8 Empty Re: Russian Economy General News: #7

    Post  par far on Wed Nov 23, 2016 6:23 pm

    "Western firms invest billions in Russia as economy returns to growth."


    https://www.rt.com/business/367908-western-corporations-invest-russia-billions/


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    Austin

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    Russian Economy General News: #7 - Page 8 Empty Re: Russian Economy General News: #7

    Post  Austin on Wed Nov 23, 2016 6:25 pm

    Kudrin would have been long out of job if not for Putin intervention , It is he who is keeping him in work  so some one needs to ask him why he is there
    miketheterrible
    miketheterrible

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    Post  miketheterrible on Wed Nov 23, 2016 10:34 pm

    I think, and I'm just throwing it out there, is that Kudrin is the other sides voice. It is more like a "to keep them quiet and complacent (libs), keep him employed". So they put him in charge of a liberal economic think tank while presidential advisor Glazyev is head of the conservative think tank. So now you get both sides, both options and ideas.

    But he shouldn't be invited to the ONF conference in first place.

    Also there seems to be mixed information regarding what he has said. In the past, he was anti military. Apparently his reasoning for things he said is that he wants to keep the anti western mindset to a minimum to improve prospects of western companies investing in Russia. Because in his mind, a weak economy means a weak military. Other thought too is that he thinks the technological backwardness of Russia (which I don't agree with) is more of a threat to Russia than the military one currently.

    But he is foolish anyway. Russia isn't really technologically backwards. And if you try to always catch up, you will be doing so for forever. Instead, Russia needs to develop its own standards for technology and in their own capabilities so that in the end, its comparing apples to oranges.

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