Policy And Politics International Perspective Paper, H. John Heinz III School of Public Policy and Management, Carnegie Mellon University, Spring 2006:
The Soviet economy and society declined in the following decades until General Secretary Mikhail GORBACHEV (1985-91) introduced glasnost (openness) and perestroika (restructuring) in an effort to renovate Communism, but his initiatives unintentionally released forces that by December 1991 splintered the USSR into Russia and 14 other independent republics. Since then, Russia has struggled in its efforts to construct a democratic political system and market economy to replace the strict social, political, and economic controls of the Communist period. While some progress has been made on the economic front, recent years have seen a recentralization of power under Vladimir PUTIN and the erosion of emerging democratic institutions.
U.S.A-China Relations, Is China A Friend Or An Enemy?, Policy And Politics International Perspective Paper, H. John Heinz III School of Public Policy and Management, Carnegie Mellon University, Spring 2006
Background: The relation between U.S.A and China has changed since 1980’s. Today the U.S is the world’s most developed country, while China is the world’s largest developing country. There is a cooperative partnership in many fields between USA and China which is beneficial for both sides. During the last two decades China has practiced remarkable changes. These changes compromise almost all aspects of Chinese society, as well as China’s relations with outside world. Since starting to open up and reform its economy in 1978, China has averaged 9.4 percent annual GDP growth, one of the highest growth rates in the world. China has also attracted hundreds of billions of dollars of foreign investment and more than a trillion dollars of domestic nonpublic investment. Foreign direct investment (FDI) in China has also increased dramatically, rotating China into the 2nd most important recipient of FDI, after the US.
TAKING CENTRE STAGE
Richard Yetsenga and Ian Bremmer
Chief Economist, ANZ and President & Founder, Eurasia Group & GZERO Media
19 JUNE 2020
REMAKING THE GLOBAL ORDER
COVID-19 has shaken the global economy at a time when the geopolitical and economic order was already in flux.
A presentation about rising economies around the world. Which countries are strong economically, who are our world economical leaders and who are moving up the ladder.
CHINA STOCK MARKET CRASH 2015,
CHINA
INTRODUCTION
The Chinese stock market crash began with the popping of the stock market bubble on 12 June 2015.A third of the value of A-shares on the Shanghai Stock Exchange was lost within one month of the event. Major aftershocks occurred around 27 July and 24 August's "Black Monday."
CAUSES
Enthusiastic individual investors inflated the stock market bubble through mass amounts of investments in stocks often using borrowed money, exceeding the rate of economic growth and profits of the companies they were investing in.
Investors faced margin calls on their stocks and many were forced to sell off shares in droves, precipitating the crash.
By 8–9 July 2015, the Shanghai stock market had fallen 30 percent over three weeks as 1,400 companies, or more than half listed, filed for a trading halt in an attempt to prevent further losses.
Values of Chinese stock markets continued to drop despite efforts by the government to reduce the fall.
After three stable weeks the Shanghai index fell again on 27 July by 8.5 percent, marking the largest fall since 2007.
China's economic slowdown isn't just bad for china94ajay
China's Economic Slowdown Isn't just bad for china, it's bad for everyone who trade with china, but India can take this opportunity to promote 'Make in India'
Understanding the US-China Trade Relationship Peachy Essay
The US-China Business Council (USCBC) is pleased to have commissioned this study by Oxford Economics on the overall impact of China on the US economy.
During last year’s election campaign, the negative impact of trade with China, such as estimates of jobs lost, received considerable attention. In most cases, the presented data fails to provide a balanced assessment that incorporates the positive effect of the commercial relationship with China. Presenting only the negative impact and ignoring the jobs created, lower inflation, and other benefits of trade with China can lead to policies based on incomplete or misleading information.
U.S.A-China Relations, Is China A Friend Or An Enemy?, Policy And Politics International Perspective Paper, H. John Heinz III School of Public Policy and Management, Carnegie Mellon University, Spring 2006
Background: The relation between U.S.A and China has changed since 1980’s. Today the U.S is the world’s most developed country, while China is the world’s largest developing country. There is a cooperative partnership in many fields between USA and China which is beneficial for both sides. During the last two decades China has practiced remarkable changes. These changes compromise almost all aspects of Chinese society, as well as China’s relations with outside world. Since starting to open up and reform its economy in 1978, China has averaged 9.4 percent annual GDP growth, one of the highest growth rates in the world. China has also attracted hundreds of billions of dollars of foreign investment and more than a trillion dollars of domestic nonpublic investment. Foreign direct investment (FDI) in China has also increased dramatically, rotating China into the 2nd most important recipient of FDI, after the US.
TAKING CENTRE STAGE
Richard Yetsenga and Ian Bremmer
Chief Economist, ANZ and President & Founder, Eurasia Group & GZERO Media
19 JUNE 2020
REMAKING THE GLOBAL ORDER
COVID-19 has shaken the global economy at a time when the geopolitical and economic order was already in flux.
A presentation about rising economies around the world. Which countries are strong economically, who are our world economical leaders and who are moving up the ladder.
CHINA STOCK MARKET CRASH 2015,
CHINA
INTRODUCTION
The Chinese stock market crash began with the popping of the stock market bubble on 12 June 2015.A third of the value of A-shares on the Shanghai Stock Exchange was lost within one month of the event. Major aftershocks occurred around 27 July and 24 August's "Black Monday."
CAUSES
Enthusiastic individual investors inflated the stock market bubble through mass amounts of investments in stocks often using borrowed money, exceeding the rate of economic growth and profits of the companies they were investing in.
Investors faced margin calls on their stocks and many were forced to sell off shares in droves, precipitating the crash.
By 8–9 July 2015, the Shanghai stock market had fallen 30 percent over three weeks as 1,400 companies, or more than half listed, filed for a trading halt in an attempt to prevent further losses.
Values of Chinese stock markets continued to drop despite efforts by the government to reduce the fall.
After three stable weeks the Shanghai index fell again on 27 July by 8.5 percent, marking the largest fall since 2007.
China's economic slowdown isn't just bad for china94ajay
China's Economic Slowdown Isn't just bad for china, it's bad for everyone who trade with china, but India can take this opportunity to promote 'Make in India'
Understanding the US-China Trade Relationship Peachy Essay
The US-China Business Council (USCBC) is pleased to have commissioned this study by Oxford Economics on the overall impact of China on the US economy.
During last year’s election campaign, the negative impact of trade with China, such as estimates of jobs lost, received considerable attention. In most cases, the presented data fails to provide a balanced assessment that incorporates the positive effect of the commercial relationship with China. Presenting only the negative impact and ignoring the jobs created, lower inflation, and other benefits of trade with China can lead to policies based on incomplete or misleading information.
Causes and possible consequences of the us china trade warHüseyin Tekler
When we look at the history of the known humanity, it appears that people started living in communities and that private property has emerged due to the progress of historical conditions. One of the consequences of this outcome is that world history is the scene of many wars and destruction. When it comes to war, it is armed struggles that take place between countries or political groups that come to mind first. Looking at this perspective, we see that the historical development process is also seen as the great majority of battles take place as physical battles, but it has become possible to say that, with great physical battles, technological and economic developments, sword-fighting and armed wars have begun to shift to economic and cultural wars. This new form of war has begun to take place on the stage of history on the basis of economic instruments. As an example of economic warfare, protectionism can be shown by countries in the direction of their own economic interests. It would not be wrong to say that the currency wars and the wars of trade that brought about by the protectionist policies of the countries, especially in the crisis period, will be the most important economic problem of our time. Throughout history, all wars have led to great destruction, and generally underdeveloped countries and poor countries have been affected by these destructions, and it is not wrong to say that the economic wars, as well as physical wars, will effect the least developed countries and the poor countries.
In this analysis, in the light of the historical background of protectionism, a trade war and the possible consequences of this war, which could be caused by the mutually elevated trade walls of the US and China, were examined.
Slowdown in Chinese Economy and its Impact on the Worldinamdaramaan
This presentation includes the overview of the causes and impact of Chinese slowdown and throws some light on future possibilities which can occur and main concerns to worry about.
With such an unpredictable 2016 behind us where Brexit and the election of new US president Donald Trump sent shock waves through the world, the question is, what can we expect for 2017?
Global economics presentation. China'a role in the global economy. The presentation consists of Background,
GDP, Trade, Bad Publicity, Wages & Financial, and Economic Growth
Know how China's Economic Slowdown has a significant impact on key economies that have strong trade ties with the country? Download the Aranca special report on China Slowdown here.
Russian Foreign Policy during Yeltsin and Putin. Comparative analysisValeriia Didkovska
Domestic Regime, its interests and External Actions.
State vs. Oligarchs, shifts in FP from Yeltsin's to Putin's era, regime type in modern Russia, corporatist-kleptocratic influence on FP
Causes and possible consequences of the us china trade warHüseyin Tekler
When we look at the history of the known humanity, it appears that people started living in communities and that private property has emerged due to the progress of historical conditions. One of the consequences of this outcome is that world history is the scene of many wars and destruction. When it comes to war, it is armed struggles that take place between countries or political groups that come to mind first. Looking at this perspective, we see that the historical development process is also seen as the great majority of battles take place as physical battles, but it has become possible to say that, with great physical battles, technological and economic developments, sword-fighting and armed wars have begun to shift to economic and cultural wars. This new form of war has begun to take place on the stage of history on the basis of economic instruments. As an example of economic warfare, protectionism can be shown by countries in the direction of their own economic interests. It would not be wrong to say that the currency wars and the wars of trade that brought about by the protectionist policies of the countries, especially in the crisis period, will be the most important economic problem of our time. Throughout history, all wars have led to great destruction, and generally underdeveloped countries and poor countries have been affected by these destructions, and it is not wrong to say that the economic wars, as well as physical wars, will effect the least developed countries and the poor countries.
In this analysis, in the light of the historical background of protectionism, a trade war and the possible consequences of this war, which could be caused by the mutually elevated trade walls of the US and China, were examined.
Slowdown in Chinese Economy and its Impact on the Worldinamdaramaan
This presentation includes the overview of the causes and impact of Chinese slowdown and throws some light on future possibilities which can occur and main concerns to worry about.
With such an unpredictable 2016 behind us where Brexit and the election of new US president Donald Trump sent shock waves through the world, the question is, what can we expect for 2017?
Global economics presentation. China'a role in the global economy. The presentation consists of Background,
GDP, Trade, Bad Publicity, Wages & Financial, and Economic Growth
Know how China's Economic Slowdown has a significant impact on key economies that have strong trade ties with the country? Download the Aranca special report on China Slowdown here.
Russian Foreign Policy during Yeltsin and Putin. Comparative analysisValeriia Didkovska
Domestic Regime, its interests and External Actions.
State vs. Oligarchs, shifts in FP from Yeltsin's to Putin's era, regime type in modern Russia, corporatist-kleptocratic influence on FP
Russia's Lost Decade? Challenges to Growth, Recipes for AccelerationAndrey Shapenko
The Russian economy today is going through a critical stage. The growth model, which catapulted the country into the world’s top ten economies’ list has been exhausted and most experts believe that Russia is facing a long period of low or no growth. While the world is moving forward, Russia’s standing still. Hovering anxiously in one place means its economy is becoming smaller and is further increasing its competitive gap.
The ailing economy is often blamed on the falling oil prices combined with the economic sanctions that were imposed on Russia in 2014. However, the array of challenges that the economy is facing today is much broader than that, and the recession in Russia has deeper roots.
This report represents an attempt to discuss those roots and to summarize economic agenda that the country's leadership will face on the way to restart growth, amid the 2018 presidential elections. This agenda will define economic and fiscal policy over the next 5-10 years, and thus will impact anyone who is doing business or going to invest in the country.
Running Head Russian Economy Past, Present & Future Russian Ec.docxtodd521
Running Head: Russian Economy: Past, Present & Future
Russian Economy: Past, Present & Future 11
Russian Economy: Past, Present & Future
By [Name of Student]
Course
Professor
[Name of Institution]
November 04, 2018
Russian Economy: Past, Present & Future
Question 1:
INTERMEDIATE INPUTS
1. -----------SOURCES-------- ------REQUIRED BY-------- -----FINAL USE------------------
Output
Stocks
Imports
Coal
Steel
Machinery
Consumption
Exports
Imports
Coal (tons)
975
10
0
10
500
50
50
100
210
Steel (tons)
2,000
0
20
200
400
1,000
300
100
20
Machinery
100
5
5
20
40
10
20
10
10
Consumer goods
340
10
20
0
0
0
100
100
230
The table shows the 4-sector input-out table of the Soviet economy in 1951.
Does a balance exist? Discuss which sector/s you believe may not be in balance and why (50-75 words)
The given input-output model depicts an imbalance. The output of coal, steel and machinery, as well as the consumer goods were in sufficient, but their final consumption was at the lowest level. The reason behind this maladministration, is the fickle economic policy of the government, which forced the agricultural farmers to work into the industries, and maximize the output, while the available resources were minimum. The concentration towards industrialization by ignoring the agricultural field ruined the whole mechanism.
What options does Gosplan have to bring the system into balance? Which options would be appropriate for each sector that might not currently be balanced? How will this bring about balance? Justify your choice of action. (100-150 words)
Soviet economy was managed by Gosplan, the State Planning Commission, responsible for drawing economic policy based on the input of the market and its advisors
1950s is considered to be a most successful period after NEP, when national income grew as much as 9 percent annually. Prices generally went down.
The major fault came through, was the falsification of presented data to the actual planners and policy makers.
There was a drastic expansion in the output of the consumer goods associated with agricultural in the past (Denton, 1968), but the post war period and the destruction of the cities, debris everywhere urged the Gosplan to forcefully minimize the agricultural farming and maximize the reconstruction and the industrialization of the country, which ultimately became the major mistake. The Gosplan should have focused on the agricultural, while tried its utmost effort on the exports of coal, steel and the machinery. And should have stabilized the production of the consumer goods, as per requirements.
Discuss five of the chief drawbacks to the system of central planning that was in place in the Soviet Union from 1935 - 1965. (250 words)
The central planning system of Soviet Union, usually called "material balance planning" which was to balance the total output with the total input, and by this way, there was an equitable.
IMF Working Paper - Evaluation of the Oil Fiscal Regime in Russia and Proposals for Reform.
Material disponibilizado pela assessoria do senador Lindbergh Farias.
http://www.imf.org/external/pubs/ft/wp/2010/wp1033.pdf
Global financial and economic crisis and its influence on national economy of...Ruhull
For an overall estimation of the current crisis, we should highlight its three important characteristics:
This crisis itself represents the first world crisis of global capitalism, which happened after the collapse of the world socialistic system;
The current crisis serves as a crisis of the global liberalism model, pointing to the imperfection of modern economic system;
The current crisis can be considered as a turning point in the global economic system and in national economic models, as well as in economic science.
All these features give it the enormity and the increased level of risks
The failure of neoliberal globalization is demonstrated by the outbreak of the 2008 global crisis that erupted in the United States in the mortgage lending sector, which immediately spread to other parts of the world financial system, by the increase of the global imbalance in trade, savings and Investment and by social inequality materialized in the excessive concentration of wealth around the world.
USA-North Korea Relations, What Would USA Do to Deal With Problem of North Korea’s Nuclear Weapons?, Policy And Politics International Perspective Paper, H. John Heinz III School of Public Policy and Management, Carnegie Mellon University, Spring 2006
Background Information About USA-North Korea Relations :
North Korea has a centralized government under the rigid control of the communist Korean Workers' Party (KWP), to which all government officials belong. U.S.-North Korea relations developed primarily during the Korean War, but in recent years have been largely defined by the United States' suspicions regarding North Korea's nuclear programs, and North Korea's perception of an imminent U.S. attack. North Korea claims to possess nuclear weapons, and is widely believed to have a substantial arsenal of chemical weapons, deliverable by artillery against South Korea. Different presidents have dealt with North Korea in different ways. Bill Clinton and George W. Bush, the 42nd and 43rd presidents respectively also tried at the beginning of their tenure as president to ignore the brewing problems in North Korea. Their decisions in dealing with North Korea would help to define their early reputations as foreign policy makers. Many similarities can be seen, however, between how Clinton started dealing with North Korea and how Bush started out dealing with North Korea.
Fiscal Rule Index for Turkey, Policy Paper, Association of Treasury Controllers, http://www.hazine.org.tr/makaleler/Mali%20Kural%20Endeksi.pdf, Ankara, 12 May 2010 (in Turkish)
Criticism of the World Bank and Cost Benefit Analysis of the World Bank Financed Projects - Case of Turkey, Policy Paper, Undersecretariat of Treasury Board of Treasury Controller, Ankara, November 2009 (Updated December 2010)
In this study I will examine structure, activities, mission and performance of the World Bank, types of funds and their sectoral-regional distributions, relations with member countries, financial sources and phases (project cycle) of Bank financed projects. After that, I will evaluate World Bank financed projects and its effects in Turkey by examining Turkey-WB relations. I will give my personal findings, criticisms and recommendations on these issues.
A Case Study of World Bank Projects in Turkey: An Evaluation of Barrowed Funds and Project Implementation, Systems Synthesis Project, Heinz School of Public Policy and Management, Carnegie Mellon University, Spring 2007
Our analysis was supplemented with external research and the expertise of our team to develop substantive recommendations for the Turkish government. The overarching finding was that World Bank funding continues to contribute to Turkey’s development and is an important contributor to Turkey’s economic growth. However, there are tangible ways by which Turkey can improve the use of funds to have a greater impact, benefiting Turkey both socially and economically. Based on the comprehensive findings, the four main recommendations are:
• More effective planning can improve the implementation of World Bank funded projects in Turkey.
• Evaluation of loan disbursements and repayments in real terms will provide clearer picture of loan costs and interest rates.
• Increased transparency in the selection, execution, and evaluation of projects can lead to gains in efficiency.
• Greater accountability has the potential to improve multiple phases of projects, and thereby, influence the overall effectiveness of project implementation.
These recommendations are intended to be feasible and practical, enabling Turkey to take full advantage of World Bank funding.
The World Bank and the European Union’s Cooperation on China, Globalization and its Implications, The Heinz School Review Volume 3, Issue 1, March 15, 2006
Neither isolationism nor unilateralism is a credible response to globalization. In order to strengthen the world’s economic, political, and social stability, the World Bank and the European Union must work together to promote common values such as democracy, freedom, respect for human rights and the rule of law. I think that cooperation regarding China between the World Bank (WB) and the European Union (EU) will be very useful in this regard.
Precious Metals, Evaluation of the Legislation of Precious Metals and Status of the Istanbul Gold Exchange in Finance Sector, Undersecretariat of Treasury Board of Treasury Controller, Proficiency Thesis, Ankara, 2000 (in Turkish)
This study embarked on precious metals, which have a crucial standing on economic structure in various historical periods all over the World and so in our country as cash, saving and investment tool or a precious good, the legislation on precious metals and the exchange markets where these metals ate being exchanged and also be explored.
More from Ergul HALISCELIK, Republic of Turkey Prime Ministry Undersecretariat of Treasury (8)
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Sectors of the Indian Economy - Class 10 Study Notes pdf
USA-Russia Relations, Policy Recommendations Regarding How to Deal With Russia
1. POLICY PAPER
ON
USA-RUSSIA RELATIONS
POLICY RECOMMENDATIONS REGARDING
HOW TO DEAL WITH RUSSIA
(Policy and Politics International Perspective)
Ergul HALISCELIK
Senior Treasury Controller
Republic of Turkey Prime Ministry Undersecretariat of
Treasury
Policy Paper, Spring 2006
H. John Heinz III College, Carnegie Mellon University
2. Background:
The Soviet economy and society declined in the following decades until General Secretary
Mikhail GORBACHEV (1985-91) introduced glasnost (openness) and perestroika (restructuring) in
an effort to renovate Communism, but his initiatives unintentionally released forces that by
December 1991 splintered the USSR into Russia and 14 other independent republics. Since then,
Russia has struggled in its efforts to construct a democratic political system and market economy to
replace the strict social, political, and economic controls of the Communist period. While some
progress has been made on the economic front, recent years have seen a recentralization of power
under Vladimir PUTIN and the erosion of emerging democratic institutions.1
The Legacy Left by President Yeltsin:
There were a number of turning points in Russia’s relationship with the West generally and
with NATO particularly after the dissolution of the Warsaw Treaty Organization in 1989.2
Yeltsin’s foreign policy, like Gorbachev's, could assist set the route for economic and social changes
in the country. Boris Yeltsin's primary aim in foreign policy was to build a non-threatening external
environment that would be most favorable to his country's internal economic and political
development. Yeltsin cooperated with Western states, obtaining membership for Russia in that most
exclusive of Western "clubs," the G7, and pursuing opportunities to cooperate with European Union,
and international financial organizations such as the World Bank, World Trade Organization and the
International Monetary Fund.3
Yeltsin primarily engaged with internal political and economic troubles in his final two years
in office. Many of these were because of his incorrect policies; in August 1998, Russia's economy
collapsed. A currency devaluation and moratorium on payment of external debts virtually destroyed
2
3. opportunities for further credits or investments from the West. The greatest crisis in East-West
relations in the Yeltsin era took place in 1999 and resulted from a mixture of two volatile issues: the
continuing crisis in the Balkans and the NATO's expansion. The failed war in Chechnya, the sinking
economy and rising corruption are other legacy left by President Yeltsin.4
The Nature of the Current Russian Political System:
Russian political system is now dominated by President Vladimir Putin and his United
Russia party. At the 2003 legislative elections, United Russia reduced all other parties to minor
status. Other parties retaining seats in the State Council (Gosudarstvennaya Duma), the lower house
of the legislature, are the Communist Party of the Russian Federation, the Liberal Democratic Party
of Russia and the nationalistic Rodina ("Motherland") Block. In 2004, Prime Minister Mikhail
Kasyanov and his cabinet were dismissed by Putin. Putin won a second full term without difficulty
in the March 2004 presidential election, which has been criticized by OSCE (Organization for
Security and Co-operation in Europe) for the unfair use of state apparatus and media made by
Putin's party.5
The Nature of the Current Russian Economic System:
The economy of Russia accomplished a remarkable transformation in the 1990s. Economy
was transformed from the centrally planned economy to an economy operating on the basis of
market forces and private property. Russia ended 2005 with its seventh straight year of growth,
averaging 6.4% annually since the financial crisis of 1998. Russia has also improved its international
financial position since the 1998 financial crisis, with its foreign debt declining from 90% of GDP to
around 31%. Strong oil export earnings have allowed Russia to increase its foreign reserves from
only $12 billion to some $180 billion at year end 2005. 6
3
4. These achievements, along with a renewed government effort to advance structural reforms,
have raised business and investor confidence in Russia's economic prospects. Nevertheless, serious
problems persist. Economic growth slowed to 5.9% for 2005 while inflation remains high. Oil,
natural gas, metals, and timber account for more than 80% of exports, leaving the country vulnerable
to swings in world prices.7
Other problems include a weak banking system, a poor business atmosphere that discourages
both domestic and foreign investors, corruption, and widespread lack of trust in institutions.
Especially after the investigations launched against a major Russian oil company in 2003 and
acquisition of the company by a state owned firm raised concerns that President PUTIN desires to
reassert state control over the economy. State control has increased in the past year with a number of
large acquisitions. Most fundamentally, Russia has made little progress in building the rule of law,
the basis of a modern market economy. Estimated 2005 trade figures of Russia as follows 8:
Exports: $245 billion (Export Partners: Netherlands 9.1%, Germany 8%, Ukraine 6.4%,
Italy 6.2%, China 6%, US 5%, Switzerland 4.7%, Turkey 4.3% )
Imports: $125 billion (Import Partners: Germany 15.3%, Ukraine 8.8%, China 6.9%, Japan
5.7%, Kazakhstan 5%, US 4.6%, Italy 4.6%, France 4.4%)
President Putin’s Foreign Policy:
Under the leadership of President Vladimir Putin, Russia continues to search for its new role
in the world. Forming relationship with western neighbors is a crucial part of this search, since both
Europe and Russia are undergoing tremendous internal changes. After the collapse of the Soviet
Union in December 1991, Russia was forced to urgently develop a new foreign policy framework.
For now, Russia remains beyond the political and economic boundaries of Europe and will continue
to act as an independent player in the foreseeable future.9
4
5. Russia has been attempting to achieve several important goals simultaneously.
On one hand, it wants to ensure the country’s national security and territorial
integrity.
But the Kremlin also wants to gain back the influence possessed by the Soviet Union
in Europe and around the world to re-establish its place as one of the leading
continental powers.
At the same time, Russia wants to make its foreign policy economically sensible.
Europe and the United States are seen as external sources for the country’s economic
modernization.
These goals oppose each other. Russia today is not capable to separately guarantee its own
security while also contributing to global stability. For that, it needs the tight bonds of partnership
with and military and economic assistance from the United States, NATO, and the European
Union.10
Human Rights Issue:
Council of Europe establishes a minimum standard for the safeguarding of civil and political
rights in member states. Russian political leaders applied to enter the Council of Europe in May
1992. They did so for a number of reasons, including strengthening Russia's trade ties with Europe,
ensure an institutional connection with its former Soviet bloc partners, and gain acceptance as a
nascent democracy. There were 12 Entrance Criteria for Russia that I think the below issues are still
problems in Russia11:
5
6. The need for, new criminal and criminal procedure codes, new civil and civil procedure
codes, and a law on the functioning and administration of the prison system,
The need for, law on the Procurator's Office, law on the Office of the Commissioner of
Human Rights, law for the protection of national minorities, law on the freedom of assembly,
and law on the freedom of religion.
Justice human rights violators in Chechnya
Allow for effective freedom of movement inside Russia.
U.S also supports many social, economic and human rights project in Russia12:
Democracy Programs $43.44 million In Fiscal Year 2005, the $915.78 million
Economic Programs $9.74 million budgeted by all U.S. Government agencies
Social Reform $23.43 million
Security & Law Enforcement $828.42 million for assistance programs in Russia is
Humanitarian $13.5 million
allocated roughly as follows;
Cross-Sectoral Initiatives $2.25 million
Energy Resources:
Today, Russia is one of the most important actors for the energy resource in terms of both
production and consumption. The below table is summary of the energy resources, production and
consumption figures of the Russia and its share in the World economy.
Rank Country Oil – production (bbl/day) Date of Information
1 World 79,650,000 2003 est.
2 Saudi Arabia 9,475,000 2005 est.
3 Russia 9,150,000 2005 est.
Oil – consumption (bbl/day)
1 World 80,100,000 2003 est.
2 US 20,030,000 2003 est.
3 EU 14,590,000 2001
7 Russia 2,800,000 2005 est.
Oil – exports (bbl/day)
1 Saudi Arabia 7,920,000 2003
2 EU 5,322,000 2001
3 Russia 5,150,000 2004
6
7. Natural gas – production (cu m)
1 World 2,674,000,000,000 2003 est.
2 Russia 587,000,000,000 2005 est.
3 US 539,000,000,000 2003 est.
Natural gas – consumption (cu m)
1 World 2,746,000,000,000 2003 est.
2 US 633,600,000,000 2003 est.
3 EU 465,600,000,000 2001
4 Russia 402,100,000,000 2004 est.
Natural gas – exports (cu m)
1 World 667,600,000,000 2001 est.
2 Russia 157,200,000,000 2004 est.
3 Canada 91,520,000,000 2003 est.
Source: CIA - The World Factbook -Rank Order
Policy Recommendations Regarding How to Deal With Russia:
The US and Russia should improve cooperation to respond to nuclear terrorism. Strategic
partnership with Russia against terrorism will be effective.
The US should cooperate with Russia to complete bilateral negotiations for Russia's
accomplishment to the WTO. This will improve commercial opportunities for both sides,
support economic reforms that Russia has made a priority, and further integrate Russia into
the world economy.
Cooperation on energy issues remains an area of great assurance for U.S.-Russian relations.
This issue will expand energy security, diversify energy supplies, and improve the
transparency of the business and investment environment.
US and Russia should also cooperate in a number of other areas such as Counterterrorism,
Space Cooperation, Humanitarian and Social and People-to-People Cooperation.
Moscow has concerned about American designs on the region’s oil and energy reserves and
required to protect its own access to these resources.13 So U.S has to consider this concern
and develop an effective diplomacy in the future developments.
7
8. Determined bilateral relationship in conjunction with a more long-term strategy for growth
Russian civil, political, and economic societies will help Russia back onto a democratizing
path and it will effect U.S-Russia relations and world stability at large positively in the long
run.
Finally, there is oil. Russia is not only the world’s largest exporter of oil and gas, but also
still has one of the world’s largest oil reserve bases and owns 30 percent of the world’s
proven gas reserves. Assisting American direct foreign investment in Russia and increasing
the number of pipelines available to ship them are strategic American objectives which can
be pursued only through a cooperative relationship with the Russia.14
1
CIA - The World Factbook -- Russia
2
J.L.Black, “Vladimir Putin and the New World Order”
3
Robert H. Donaldson, “Boris Yeltsin's Foreign Policy Legacy” 41st Annual Meeting of the International
Studies Association, Los Angeles, California, March 18, 2000
4
Ibid.
5
Politics of Russia - Wikipedia, the free encyclopedia
6
CIA - The World Factbook -- Russia
7
Ibid
8
Ibid.
9
Nikolai Zlobin, Harvard International Review, “Together But Separate Russia and Europe in the New
Century”
10
Ibid.
11
Demokratizatsiya, Spring 2003 by A, Pamela Russia's Accession to the Council of Europe and Compliance
with European Human Rights Norms
12
U.S. Assistance to Russia -- Fiscal Year 2005 http://www.state.gov/p/eur/rls/fs/48458.htm
13
Leszek Buszynski, “Russia;s new role in the central Asia”
14
James M. Goldgeier and Michael McFaul, “What To Do About Russia”
http://www.gwu.edu/~ieresgwu/WhatToDoAboutRussia.pdf
8