Lessons for India 2 //// Russian average wages rose 15-fold since Mr Putin came to power. Russia is now a two-trillion-dollar economy. So too was the talk: //// Now it faces recession. Business confidence – already battered by misrule and venal officialdom – is plunging.//// Russians able to protect their household and business finances are reacting accordingly, taking their money out of banks and changing it to dollars, kept in strongboxes at home; or whisking it out of the country via banks abroad.//// Those worries are not new, but in the days when Russia was booming, people were willing to swallow their worries and take what profits they could. Now it is time to abandon ship. //// And even a cosmetic change of course would carry a political price: it would concede that his approach in the past four years, of repression at home, aggression abroad ( In Indias Case, repression at home, timidity abroad) , and intensified cronyism at the heights of the economy, had been wrong. //// telegraph.co.uk/news/worldnews/europe/russia/11296934/Putins-economic-lies-over-Russia-have-been-dangerously-exposed.html
Posted on: Sat, 20 Dec 2014 09:26:51 +0000
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