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Strategies & Market Trends : Investment in Russia and Eastern Europe
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To: jbe who wrote (806)11/14/1998 10:45:00 PM
From: Rob Shilling  Read Replies (1) of 1301
 
<<Russia is not producing much of anything.>>

I guess you are part of the "Russia is Indonesia" crowd. I haven't seen Indonesia build anything for the Space Station. I haven't seen Indonesia build the MIR space space station. I haven't seen Indonesia build airplanes. How about defense systems ?? How about MIG fighters ??? How about tanks ??? CNN just said that one of the reasons why Russia wants Iraq not to be bombed is that Iraq owes Russia $7 billion from arms sales in the 1980's. LUKOY has ordered tanker ships from a Russian company. Russia builds autos too. Do you know that U.S. companies get cheap technical labor by hiring Russian programmers that stay in the country and program for them ??
If you want to talk about percentages, yes Russia is a significant commodity exporter right now. However, since I am an investor, I am looking at what Russia's exports will look like several years from now. The only reason Russia does not have more of these items in their exports is inefficiency due to the transition from communism to democracy. That is why Primakov's idea of a "New Deal" for investing in Russian industry is a great idea.
Until that day, Russia basically needs one thing to end the crisis, higher oil prices. Once oil gets back to $17-20 a barrel that will take the monetary pressure off of Russia and they can get back to improving the country.
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