Will Moscow become a global financial centre?


Enrique 13 September, 2008, 15:17	It can be an important financial center but not Global as English speaking nations (UK and US) and their former colonies (Hong Kong, Singapore, Dubai) have the Monopoly. Note what happened to Deutsche Börse, the most successful competitor against the LSE (London Stock Exchange) Deutsche Borse did a great job and was more profitable than London and with Eurex it was the leading Exchange for derivatives. But then Deutsche Borse tried to buy the London Stock Exchange and the ultra-Nationalist British did everything to avoid it, everything. And Werner Seifert, CEO of Deutsche Borse, was naive and allowed Anglo-American Funds to buy an important slice of Deutsche Borse believing that this way they would be more open to a German buy.Wrong. Werner Seifert was wrong and the Anglo-American Funds just left Deutsche Börse as a second rank Stock Exchange and Werner Seifert was fired. Those Nationalist Funds tood full control and avoided any bold move from the formerly German Stock Exchange. Remember the failed German experience to end with the Anglo-American Monopoly. permalink quote 0 Enrique
Vijay Singh 14 September, 2008, 07:39	Moscow is already a important financial centre for a greater part of the Eurasian Super-continent. The question of a Global financial centre hinges primarily on whether - 1. It opens up to being as a source of finance for Companies from all parts of the world. 2. Whether the capacity of the Russian investing public - both individual as well as instituitional - is substantial to underwrite/fulfill the aspirations of those companies that are either too small or too shady (by LSE or NYSE standards)to raise capital! There are already alternates in this vision like Shanghai, Deutch, Mumbai or even Sau Paolo that may want to shed the Anglo-American nexus, but are hampered by legislations instituited by this same Nexus over a hundred or more years. Geographically,emerging market wise, linkage wise - Moscow has all the requisites.but Geo-politically? An International Business centre centred in & around MISEX/RTS other exchanges would be very attractive to the entities that want an alternate to the Anglo-American conglomerate.even the Anglo-American ones.! permalink quote 0 Vijay Singh
Enrique 15 September, 2008, 07:20	The only possibility for Moscow would be breaking the present Anglo Monopoly but to do that Deutsche Börse should get rid of the anti-German British Fund (TCI) which has driven it to a complete disaster from being the top European Stock Exchange. An alternative to the present one would be: -Deutsche Börse (Frankfurt) in Western Europe. -Moscow in Cetral Eurasia. -Hang Seng (Beijing) in East Asia. -Merval (Sao Paulo) in Latinamerica. -Chicago in the U.S. permalink quote 0 Enrique
Arthur 17 September, 2008, 13:17	No! permalink quote 0 Arthur
Enrique 18 September, 2008, 09:29	Last year the Prime Minister Vladimir Putin was upset because dozens of infraestructure projects were halted as the GDP growth and inflation was too high in the Russian Federation. Now, it is evident, if the financial crisis affects Russian GDP growth those projects for new infraestructure in the Russian Federation will be undertaken. permalink quote 0 Enrique
Arthur 18 September, 2008, 11:30	Enrique, the things you are raising are nothing to do with being a Global financial centre, they are to do with general economic performance. A global financial centre is where businesses is conducted between organisations from all over the world using financial instruments from all over the world. There are currently only two really global financial centres, New York and London. Some of the things you need to become a global financial centre are factors such as Availability of skilled staff, transparent and stable regularity environment, access to international financial markets, fair just and independant judicial environment. and many other such things. Russia just doesn't rate at present or for the forseable future especially while Putin and his boys are running the place. So my initial response stands, the answer is NO. permalink quote 0 Arthur
Brane 18 September, 2008, 19:33	Anyone who has paid attention to the current global economic crisis will, if they are honest, conclude that capitalism is corrupt, crooked, and evil beyond belief. It is EXACTLY what Marx said it was: savage exploitation, i.e. for the sole purpose of transferring ALL wealth and power into the hands of the capitalist class. They could care less about the rest of us. Cooked books, naked short selling, and on and on, billions upon billions disappearing into "black holes," but not to worry, the stupid taxpayers and workers will foot the bill. and the crooks will laugh all the way to the bank. Capitalism is a blatant criminal sydicate, masquerading as a lawful entity. permalink quote 0 Brane
Brane 18 September, 2008, 19:51	RTC, government bailouts? Call it what it is: socialism only for the rich bastards that created the mess and ripped us all off! No risk for the capitalists, let the taxpayers foot the bill. When will we figure out it's all a big scam for transferring wealth to the top? permalink quote 0 Brane
Lavy 19 September, 2008, 10:27	With the US becoming rapidly - The United States Socialist Republic, i.e., The new USSR. And China already PRC - Pro-business Republic of China. Maybe something of a middle ground would be required - Therefore in between the falling NYSE and emerging Shanghai Stock Exchange - the strong, stable, transparent Russian Stock markets - The International marketplace, where both investors and those seeking to raise investments congregate - seem an increasingly attractive proposition.! The highly volatile nature of the markets generally and the Russian ones as well, may make this proposition seem rather far fetched but in the Long to Medium term.? What say? permalink quote 0 Lavy
Enrique 19 September, 2008, 15:30	The Market economy is natural and simple: somebody wants to buy something.and another wants to sell it. If many want to buy something its value increases while if nobody wants to buy it its value decreases. Simple. There is no need for another guy telling us to buy this or sell that whenever he wants. permalink quote 0 Enrique
Enrique 20 September, 2008, 12:04	In spite of the thai baht crisis which led to the 1998 financial collapse in Russia and Argentina, global financial imbalances were constricted to the margins of the system not affecting the Core (U.S. and Western Europe) That changed on 911. Alan Greenspen did the right thing by cutting interest rates fast and sharply trying to inject confidance to the American People as a kind of national drug injection, something which led to the sudden mortgage and consumption bubble which now has finally exploded and they are now trying to find the right equilibrium after the tsunami. Waves have to calm down and market forces flow. permalink quote 0 Enrique
Lavy 21 September, 2008, 12:44	A Chinese commentator writes - "Threatened by a 'financial tsunami', the world must consider building a financial order no longer dependent on the United States, a leading Chinese state newspaper said on Wednesday. 'The eruption of the U.S. sub-prime crisis has exposed massive loopholes in the United States' financial oversight and supervision,' writes the commentator, Shi Jianxun. 'The world urgently needs to create a diversified currency and financial system and fair and just financial order that is not dependent on the United States.'" The American government is a bunch of crooks. It is amazing that the world has so long put up with these criminals, for there is no other word for people who are ruining the economy, making a living killing and breaching the Constitution, and national and international laws. Another adds - The 'new world order' was pushed down our throats by the neo-imperialists of the US and Britain. As long as their game continues nothing much will change. The privatisation and deregulation that is rampant in the financial policies, the foreign policy and the military, is the source of all evil. We are living in a mercenary economy, that looks very much like piracy, and as such we no longer live in a democracy. Another - "The Netherlands held fast to its opposition Monday 15th to closer ties between the European Union and Serbia blocking of the implementation of the Temporary Agreement. Dutch Foreign Minister Maxime Verhagen said his country would continue to block a pre-membership accord with Serbia until it had met the Netherlands' definition of 'full cooperation' with the war crimes tribunal in The Hague, Netherlands. However Serbia - and maybe Macedonia too - can have an attractive alternative to alliance with stagnated EU or to strategic short-sightedness of Washington. Good future could be with BRIC. BRIC is an acronym for the economies of Brazil, Russia, India and China combined. " The world needs a system, that is independent of these crooks.! The world needs a system that accurately reflects the actual strength of economies, not just the book-values as per the current currency rates ONLY.! The world needs a system that would hold each nation's to it's excesses - be it military, greed, over spending etc. In short.the world needs to cut the Flab from its system.in order to start operating effectively again! A more 'Democratic Capitalism', not an authoritarian one as is prevalent now'.! permalink quote 0 Lavy
tlumacz 21 September, 2008, 15:08	I understand the question as a metaphor for WILL RUSSIA BECOME AN ECONOMIC SUPERPOWER? In my opinion, unlikely. Nevertheless, Russia isn't without a chance. To fulfil that goal Russia has to overcome two major problems: 1. Negative demographic growth rate. 2. Alcoholism. This is proved by unusually high difference between longevity in females and that in males. You have a perfect cure for both problems. Though, a little bitter. Namely, the muslim minority in Russian Federation is well known both for their high fertlity rates and for their abhorence to alcohol. A new nation has to be formed comprising Slavic ingenuity and muslim reverence for family values. The fall of dollar is only a matter of time. So is that of USA. But I doubt whether anybody will be able to rival China in the 22nd century. permalink quote 0 tlumacz
David 27 September, 2008, 12:12	If Russia plays her cards right - YES! Russia is not linked to the rediculous schemes of the west. Furthermore, one hears of Brown making a pleading statement to the world asking for money to help the west out of this financial predicament. It is a mess that Bush and Brown forced the world into and it must be them to resolve, not the world. I just wonder, though.This alledge financial fiasco is it not another ploy by the American and English governments to get more money to finance the two wars they are involved in? Just like 9/11!! Perhaps another lie masked over. permalink quote 0 David
Enrique 27 September, 2008, 12:30	You ve to correct the new about IMF and 10% "fall" in GDP which is badly written. What the IMF said is NOT that Russian GDP will fall 10% but that it will fall from INCREASING 10% in January to 7,1% by the end of the year. keepping one of the highest levels of growth in the World. It is very different. permalink quote 0 Enrique
Enrique 30 September, 2008, 09:42	Moscow always over-react to what happens in the U.S. falling much more than the NYSE or any Western European Bourse. While Western European Stock Exhanges just have fallen about 1% after the American bail-out plan failed, Moscow fell much more. If we take into account that the Russian economy is growing over 7% while the Eurozone economy is growing just 1% it is evident the over-reaction of Russian investors doesn´t respond to the real situation of production and GDP growth in the Russian Federation. permalink quote 0 Enrique
Enrique 30 September, 2008, 22:35	Russia can be considered an international economic oasis right now with GDP growing over 7% when most of the rest of the World is on the verge of recession. Russia has to sell itself better, and first of all to its own citizens who sell shares when the economy is thriving. There are important developments under way in Sochi, Vladivostok and Moscow while in most of the World construction projects haver halted. Gas and oil production is at an all time high with increasing Asian demand while other nations have to import the energy resources. Infraestructure (railways, highways and ports) are being built at high speed to meet demand. Grain production and exports, Defense exports (Mig, Sukhoi) are the second largest in the World. So we can say that Moscow is an Economic Heaven for investors from around the World and first of all for Russian investors. permalink quote 0 Enrique
Jade 5 October, 2008, 23:11	I agree with Medvedev and Putin, who've been talking about the new developing multipolar world and new regional economic centers, as well as regional currencies. US will no longer be the world's "only" leader, neither will it's currency. Russia will definitely become one of the regional leaders, economically, politically and currency-wise. However, it's important that this new emerging multipolar world and new multi-regional economic structure be based on different principles then the current anglo-american system. Yes, as someone named Arthur was suggesting earlier, solid legal system, trained personnel, infrastructure, and business culture are paramount, but all this can and will be developed, or can be bought. But what you can never buy, is honor and trust. And these are the magic ingrediants that both US and England have inequivocably lost. The world simply doesn't trust the governments of these two countries. "Western values" are NOT shared by the majority of the world and West's actions of late make it look sillier and sillier. Americans themselves are sick and distrustful of their own politicians. Before, when the US/UK economic system was the only one available and other nations didn't know how to play the game, the US/UK domination was a sure thing. But not any more. Now, that other nations have learned to play the game and beat the West at it, it's only a matter of time when all influence shifts away from the West. It may take time, but the old Anglo/US system - system that doesn't work any more - will be discarded and the new inter-regional economic system will be developed. In order to sucseed this new system must be based not on principles of global domination and economic/political blackmail (the trademarks of the current system), but on principles of mutual respect and benefit, as well as international cooperation. I think most of the world would gladly embrace such a system. However, I do not believe that the West in general, and US/UK in particular will accept it easily(and I know what I'm talking about - I live in the US), as they are used to the system of domination at the expense of other nations. Russia's role will be paramount in affecting these necessary revolutionary changes. Good luck Russia! permalink quote 0 Jade
fred 7 October, 2008, 09:44	jade : i think that if Moscow would become a finance center : it would be a terrible mistake for Russia .! one of the few reasons = the human nature being what it is , it wouldn't take long for the Russians to make exactly the same mistake the USA made (and others before them , whatever US say they were not the first .) with one small difference , USA became a financial place (for their complete doom) AFTER having developed a production network . if Russia would become a F.P. without having a real industrial past and network , Russia would become a new "Petro-dollars arab state" or a nation were natives don't have to worry , work ,or whatever as the state is and will be around if anything goes wrong .! but in Russia the population is so much more than in Dubai or Qatar , that it wouldn't work at all . despite the fact , that before collapse, Russia and Russians would get the same illusion about their "importance and power "! look at UK , after the time of the industrial revolution and the British Empire , following the WW1 , they became the "sick man of europe" (nickname of UK economic situation between 1929 to the end of M. Tatcher) they became a Finance place , had lots of illusions , took all others for fools . now they are going to pay the price of their own illusions ! (until an other generation will have forget about daddy's past and will start the process over again !!!) permalink quote 0 fred
Sandi 7 October, 2008, 10:18	I really support Medveder and Putin plans of the development in the Russian economy. The US will no longer be the economy power. Russia should come up with new plans and princeples for it to challeng the west. permalink quote 0 Sandi

Enrique 13 September, 2008, 15:17

It can be an important financial center but not Global as English speaking nations (UK and US) and their former colonies (Hong Kong, Singapore, Dubai) have the Monopoly. Note what happened to Deutsche Börse, the most successful competitor against the LSE (London Stock Exchange) Deutsche Borse did a great job and was more profitable than London and with Eurex it was the leading Exchange for derivatives. But then Deutsche Borse tried to buy the London Stock Exchange and the ultra-Nationalist British did everything to avoid it, everything. And Werner Seifert, CEO of Deutsche Borse, was naive and allowed Anglo-American Funds to buy an important slice of Deutsche Borse believing that this way they would be more open to a German buy.Wrong. Werner Seifert was wrong and the Anglo-American Funds just left Deutsche Börse as a second rank Stock Exchange and Werner Seifert was fired. Those Nationalist Funds tood full control and avoided any bold move from the formerly German Stock Exchange. Remember the failed German experience to end with the Anglo-American Monopoly.

permalink quote Enrique

Vijay Singh 14 September, 2008, 07:39

Moscow is already a important financial centre for a greater part of the Eurasian Super-continent. The question of a Global financial centre hinges primarily on whether - 1. It opens up to being as a source of finance for Companies from all parts of the world. 2. Whether the capacity of the Russian investing public - both individual as well as instituitional - is substantial to underwrite/fulfill the aspirations of those companies that are either too small or too shady (by LSE or NYSE standards)to raise capital! There are already alternates in this vision like Shanghai, Deutch, Mumbai or even Sau Paolo that may want to shed the Anglo-American nexus, but are hampered by legislations instituited by this same Nexus over a hundred or more years. Geographically,emerging market wise, linkage wise - Moscow has all the requisites.but Geo-politically? An International Business centre centred in & around MISEX/RTS other exchanges would be very attractive to the entities that want an alternate to the Anglo-American conglomerate.even the Anglo-American ones.!

permalink quote Vijay Singh

Enrique 15 September, 2008, 07:20

The only possibility for Moscow would be breaking the present Anglo Monopoly but to do that Deutsche Börse should get rid of the anti-German British Fund (TCI) which has driven it to a complete disaster from being the top European Stock Exchange. An alternative to the present one would be: -Deutsche Börse (Frankfurt) in Western Europe. -Moscow in Cetral Eurasia. -Hang Seng (Beijing) in East Asia. -Merval (Sao Paulo) in Latinamerica. -Chicago in the U.S.

permalink quote Enrique

Arthur 17 September, 2008, 13:17

No!

permalink quote Arthur

Enrique 18 September, 2008, 09:29

Last year the Prime Minister Vladimir Putin was upset because dozens of infraestructure projects were halted as the GDP growth and inflation was too high in the Russian Federation. Now, it is evident, if the financial crisis affects Russian GDP growth those projects for new infraestructure in the Russian Federation will be undertaken.

permalink quote Enrique

Arthur 18 September, 2008, 11:30

Enrique, the things you are raising are nothing to do with being a Global financial centre, they are to do with general economic performance. A global financial centre is where businesses is conducted between organisations from all over the world using financial instruments from all over the world. There are currently only two really global financial centres, New York and London. Some of the things you need to become a global financial centre are factors such as Availability of skilled staff, transparent and stable regularity environment, access to international financial markets, fair just and independant judicial environment. and many other such things. Russia just doesn't rate at present or for the forseable future especially while Putin and his boys are running the place. So my initial response stands, the answer is NO.

permalink quote Arthur

Brane 18 September, 2008, 19:33

Anyone who has paid attention to the current global economic crisis will, if they are honest, conclude that capitalism is corrupt, crooked, and evil beyond belief. It is EXACTLY what Marx said it was: savage exploitation, i.e. for the sole purpose of transferring ALL wealth and power into the hands of the capitalist class. They could care less about the rest of us. Cooked books, naked short selling, and on and on, billions upon billions disappearing into "black holes," but not to worry, the stupid taxpayers and workers will foot the bill. and the crooks will laugh all the way to the bank. Capitalism is a blatant criminal sydicate, masquerading as a lawful entity.

permalink quote Brane

Brane 18 September, 2008, 19:51

RTC, government bailouts? Call it what it is: socialism only for the rich bastards that created the mess and ripped us all off! No risk for the capitalists, let the taxpayers foot the bill. When will we figure out it's all a big scam for transferring wealth to the top?

permalink quote Brane

Lavy 19 September, 2008, 10:27

With the US becoming rapidly - The United States Socialist Republic, i.e., The new USSR. And China already PRC - Pro-business Republic of China. Maybe something of a middle ground would be required - Therefore in between the falling NYSE and emerging Shanghai Stock Exchange - the strong, stable, transparent Russian Stock markets - The International marketplace, where both investors and those seeking to raise investments congregate - seem an increasingly attractive proposition.! The highly volatile nature of the markets generally and the Russian ones as well, may make this proposition seem rather far fetched but in the Long to Medium term.? What say?

permalink quote Lavy

Enrique 19 September, 2008, 15:30

The Market economy is natural and simple: somebody wants to buy something.and another wants to sell it. If many want to buy something its value increases while if nobody wants to buy it its value decreases. Simple. There is no need for another guy telling us to buy this or sell that whenever he wants.

permalink quote Enrique

Enrique 20 September, 2008, 12:04

In spite of the thai baht crisis which led to the 1998 financial collapse in Russia and Argentina, global financial imbalances were constricted to the margins of the system not affecting the Core (U.S. and Western Europe) That changed on 911. Alan Greenspen did the right thing by cutting interest rates fast and sharply trying to inject confidance to the American People as a kind of national drug injection, something which led to the sudden mortgage and consumption bubble which now has finally exploded and they are now trying to find the right equilibrium after the tsunami. Waves have to calm down and market forces flow.

permalink quote Enrique

Lavy 21 September, 2008, 12:44

A Chinese commentator writes - "Threatened by a 'financial tsunami', the world must consider building a financial order no longer dependent on the United States, a leading Chinese state newspaper said on Wednesday. 'The eruption of the U.S. sub-prime crisis has exposed massive loopholes in the United States' financial oversight and supervision,' writes the commentator, Shi Jianxun. 'The world urgently needs to create a diversified currency and financial system and fair and just financial order that is not dependent on the United States.'" The American government is a bunch of crooks. It is amazing that the world has so long put up with these criminals, for there is no other word for people who are ruining the economy, making a living killing and breaching the Constitution, and national and international laws. Another adds - The 'new world order' was pushed down our throats by the neo-imperialists of the US and Britain. As long as their game continues nothing much will change. The privatisation and deregulation that is rampant in the financial policies, the foreign policy and the military, is the source of all evil. We are living in a mercenary economy, that looks very much like piracy, and as such we no longer live in a democracy. Another - "The Netherlands held fast to its opposition Monday 15th to closer ties between the European Union and Serbia blocking of the implementation of the Temporary Agreement. Dutch Foreign Minister Maxime Verhagen said his country would continue to block a pre-membership accord with Serbia until it had met the Netherlands' definition of 'full cooperation' with the war crimes tribunal in The Hague, Netherlands. However Serbia - and maybe Macedonia too - can have an attractive alternative to alliance with stagnated EU or to strategic short-sightedness of Washington. Good future could be with BRIC. BRIC is an acronym for the economies of Brazil, Russia, India and China combined. " The world needs a system, that is independent of these crooks.! The world needs a system that accurately reflects the actual strength of economies, not just the book-values as per the current currency rates ONLY.! The world needs a system that would hold each nation's to it's excesses - be it military, greed, over spending etc. In short.the world needs to cut the Flab from its system.in order to start operating effectively again! A more 'Democratic Capitalism', not an authoritarian one as is prevalent now'.!

permalink quote Lavy

tlumacz 21 September, 2008, 15:08

I understand the question as a metaphor for WILL RUSSIA BECOME AN ECONOMIC SUPERPOWER? In my opinion, unlikely. Nevertheless, Russia isn't without a chance. To fulfil that goal Russia has to overcome two major problems: 1. Negative demographic growth rate. 2. Alcoholism. This is proved by unusually high difference between longevity in females and that in males. You have a perfect cure for both problems. Though, a little bitter. Namely, the muslim minority in Russian Federation is well known both for their high fertlity rates and for their abhorence to alcohol. A new nation has to be formed comprising Slavic ingenuity and muslim reverence for family values. The fall of dollar is only a matter of time. So is that of USA. But I doubt whether anybody will be able to rival China in the 22nd century.

permalink quote tlumacz

David 27 September, 2008, 12:12

If Russia plays her cards right - YES! Russia is not linked to the rediculous schemes of the west. Furthermore, one hears of Brown making a pleading statement to the world asking for money to help the west out of this financial predicament. It is a mess that Bush and Brown forced the world into and it must be them to resolve, not the world. I just wonder, though.This alledge financial fiasco is it not another ploy by the American and English governments to get more money to finance the two wars they are involved in? Just like 9/11!! Perhaps another lie masked over.

permalink quote David

Enrique 27 September, 2008, 12:30

You ve to correct the new about IMF and 10% "fall" in GDP which is badly written. What the IMF said is NOT that Russian GDP will fall 10% but that it will fall from INCREASING 10% in January to 7,1% by the end of the year. keepping one of the highest levels of growth in the World. It is very different.

permalink quote Enrique

Enrique 30 September, 2008, 09:42

Moscow always over-react to what happens in the U.S. falling much more than the NYSE or any Western European Bourse. While Western European Stock Exhanges just have fallen about 1% after the American bail-out plan failed, Moscow fell much more. If we take into account that the Russian economy is growing over 7% while the Eurozone economy is growing just 1% it is evident the over-reaction of Russian investors doesn´t respond to the real situation of production and GDP growth in the Russian Federation.

permalink quote Enrique

Enrique 30 September, 2008, 22:35

Russia can be considered an international economic oasis right now with GDP growing over 7% when most of the rest of the World is on the verge of recession. Russia has to sell itself better, and first of all to its own citizens who sell shares when the economy is thriving. There are important developments under way in Sochi, Vladivostok and Moscow while in most of the World construction projects haver halted. Gas and oil production is at an all time high with increasing Asian demand while other nations have to import the energy resources. Infraestructure (railways, highways and ports) are being built at high speed to meet demand. Grain production and exports, Defense exports (Mig, Sukhoi) are the second largest in the World. So we can say that Moscow is an Economic Heaven for investors from around the World and first of all for Russian investors.

permalink quote Enrique

Jade 5 October, 2008, 23:11

I agree with Medvedev and Putin, who've been talking about the new developing multipolar world and new regional economic centers, as well as regional currencies. US will no longer be the world's "only" leader, neither will it's currency. Russia will definitely become one of the regional leaders, economically, politically and currency-wise. However, it's important that this new emerging multipolar world and new multi-regional economic structure be based on different principles then the current anglo-american system. Yes, as someone named Arthur was suggesting earlier, solid legal system, trained personnel, infrastructure, and business culture are paramount, but all this can and will be developed, or can be bought. But what you can never buy, is honor and trust. And these are the magic ingrediants that both US and England have inequivocably lost. The world simply doesn't trust the governments of these two countries. "Western values" are NOT shared by the majority of the world and West's actions of late make it look sillier and sillier. Americans themselves are sick and distrustful of their own politicians. Before, when the US/UK economic system was the only one available and other nations didn't know how to play the game, the US/UK domination was a sure thing. But not any more. Now, that other nations have learned to play the game and beat the West at it, it's only a matter of time when all influence shifts away from the West. It may take time, but the old Anglo/US system - system that doesn't work any more - will be discarded and the new inter-regional economic system will be developed. In order to sucseed this new system must be based not on principles of global domination and economic/political blackmail (the trademarks of the current system), but on principles of mutual respect and benefit, as well as international cooperation. I think most of the world would gladly embrace such a system. However, I do not believe that the West in general, and US/UK in particular will accept it easily(and I know what I'm talking about - I live in the US), as they are used to the system of domination at the expense of other nations. Russia's role will be paramount in affecting these necessary revolutionary changes. Good luck Russia!

permalink quote Jade

fred 7 October, 2008, 09:44

jade : i think that if Moscow would become a finance center : it would be a terrible mistake for Russia .! one of the few reasons = the human nature being what it is , it wouldn't take long for the Russians to make exactly the same mistake the USA made (and others before them , whatever US say they were not the first .) with one small difference , USA became a financial place (for their complete doom) AFTER having developed a production network . if Russia would become a F.P. without having a real industrial past and network , Russia would become a new "Petro-dollars arab state" or a nation were natives don't have to worry , work ,or whatever as the state is and will be around if anything goes wrong .! but in Russia the population is so much more than in Dubai or Qatar , that it wouldn't work at all . despite the fact , that before collapse, Russia and Russians would get the same illusion about their "importance and power "! look at UK , after the time of the industrial revolution and the British Empire , following the WW1 , they became the "sick man of europe" (nickname of UK economic situation between 1929 to the end of M. Tatcher) they became a Finance place , had lots of illusions , took all others for fools . now they are going to pay the price of their own illusions ! (until an other generation will have forget about daddy's past and will start the process over again !!!)

permalink quote fred

Sandi 7 October, 2008, 10:18

I really support Medveder and Putin plans of the development in the Russian economy. The US will no longer be the economy power. Russia should come up with new plans and princeples for it to challeng the west.

permalink quote Sandi

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