Word: yeltsin
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Back in the Cold War days, Washington and Moscow pored over the world map like a chessboard; it was then folded by Boris Yeltsin, who had no appetite for the game. President Vladimir Putin, however, wants to play. And under the tutelage of such old pros as former foreign minister Yevgeny Primakov, Putin's no slouch when it comes to geopolitics. That much was clear earlier this year when the Russian president outflanked Washington among its own NATO allies in the diplomatic battle over U.S. plans for a missile defense system. Since then, he's managed, quite improbably, to revive...
...Viewed in the big picture, Putin's decision is hardly surprising - weapons remain the most viable export of the somnambulant Russian economy, and while the rampant corruption of the Yeltsin years has slowed Western aid and investment to a trickle, Tehran's weapons order alone is equivalent to more than 10 percent of Russia's annual budget. Add on recent weapons orders worth $3 billion from India and $1 billion from China, and it becomes clear that there's considerable material incentive for Moscow to ignore Washington's objections. Indeed, a case can be made that even Russia's efforts...
...there's a lot more than economics at work in Russia's latest challenge to Washington. Moscow's military establishment looked on with alarm throughout the '90s as Yeltsin compromised their strategic interests in exchange for financial handouts from the West. The seditious grumbling over NATO's expansion onto Russia's eastern European doorstep reached a crescendo during last year's Kosovo campaign. President Putin built his election campaign around the military's brutal assault on Chechnya - a hapless attempt to restore its lost honor - and vowed to restore Russian power. Despite such humiliations as the Kursk submarine disaster, Putin...
...greater emotional claim on the good offices of Islamic countries. Still, Moscow has unleashed a flurry of moves on the geopolitical chessboard. And whoever ends up calling the shots in the White House will have his work cut out for him. Washington's geopolitical free ride of the Yeltsin-Clinton years appears to be well and truly over...
...April dip was for fools. Were you one of them? If so, you had plenty of company. For most of a decade, investors have enriched themselves by plowing money into the market every time it stumbled. Whatever the downward catalyst, from Yeltsin's coup to the Asian flu, prices routinely rebounded...