An interesting article in Asia Times Online:
For Russia, as former prime minister and well-known scholar academician Yevgeniy Primakov observed ruefully in a recent Izvestia interview, “Russia will not come out of the crisis anytime soon … Russia will most likely come out of the recession in the second echelon – after the developed countries … The trap of the present crisis is that it is not localized but is worldwide. Russia is dependent on other countries. That lessens the opportunity to get out of the recession in a short period of time.”
I suspect that Russia may come out of this crisis sooner than it thinks. The real determinant of when Russia recovers will be oil prices. If oil continues its climb, which I think it will if not in a straight line, Russia will see strength return quickly. It will be interesting to see what they do when the money spigot turns on again.
The dynamics in this part of the world are changing rapidly. The brewing gravitational pull of its financial influence is undeniable.