Reza

I'm not an economist, but from a security and political perspective (not an expert in those fields either), it seems that there is too much risk associated with investment in Russia. When the prime minister who is constitutionally inferior to its president tells that president what to do, it means that there is a power structure aside from the rule of law. Whether that power structure is a good or bad thing is an interesting question, but the significant is, in my opinion, that this power structure is hidden. If you are a Frenchman who just invented a new product and you want to sell it outside of France, there are so many countries you would choose before you ever take Russia into consideration. That's my impression, and I haven't studied it to give statistics.

I am not an expert in this area. But credit seems to have done a lot of good for this country. People's skills are great assets, but they are hidden; they need capital to flourish. Historically, it used to be that you built your family fortune over many generations, with most of people's talents and ideas going to waste. I don't have any data on this, but it's my take on history. Nowadays (up until the recent capital freeze up) however, you can acquire capital, use your intelligence, ideas, and perseverance, to make a lot of money and build something for others to benefit from. From new construction to innovative services, the credit markets have given us so much opportunity. So I wouldn't call it theft at all. Stupid, perhaps, but only in some cases.