Word: capitalisme
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Nor was it real capitalism, which is not solely about mergers and acquisitions but about production as well. And the simple fact is that Russia does not produce. The old rust belt--defense-oriented enterprises employing tens of thousands each--are still lurching along, turning out things so costly and...
The "contagion" of the Russian ruble collapse--itself tied to the panic that has followed Asia's currency depreciations--has sent off economists and investors for some soul searching about emerging markets. These young tigers do not yet have the kind of social and business structures they need to build...
Smelling blood in the economic meltdown, the lower house of parliament, or Duma, took the offensive, calling for Yeltsin to resign, demanding a greater share of power and disdainfully offering the President guarantees that he would not be prosecuted or harassed once he left office. More troubling still, the communists...
Absent from those and any other of Mahathir's proclamations over the past few years has been any sense of personal culpability for the tar pit that his country?s economy has abruptly become. The usual Asian suspects ?- crony capitalism, lack of financial disclosure and plain old-fashioned corruption ?- are...
Russians are long-suffering, but they have been suffering too long to remain passive. If the anguish drags on until the 2000 election, they might not take to the barricades, but they are apt to protest with their votes. Western experts are concerned that Russians could reject what has been...