| mai said: Khan, bias is the last thing I'd have cared about. I don't have problems with people having bias, I have problems with people who're being stupid.
As for your question(s). Factual mistakes: - The most prominent one, oil and gas production is actually growing :D - It could be argued that the pace of growth has slowed down (define stagnation btw?), but government has bought it's shares back somewhere in 2003-2004. Last time I checked no slowdowns unitl 2008, what could be easily explained by more apparent reasons. - Oil and gas production is among least nationalized big industries in Russia. Anyway oil market is higly speculation dependant, the production rates may change wildly for numerous reasons, say, prices high - stop production, prices low - ramp up production, as the most banal example. OPEC countries doing it all the time. So if there any changes, I'd start searching for a reasons somewhere else than (re)nationalization. You'd probably should avoid these starightforward comparisons whatsoever, like nationalization = bad, privatization = good for economy - it's tad more complex :D or what you're trying to say? Don't get it. BTW have you read the most recent Putin's economy-related article? There's a word or two about privatization ;D
UPD: As for the rest of the quote. Banking, not sure what exactly he meant... what kind of banking? As for machine building, bold no. If anything govermental conglomerates like OAK (aircraft building) and OSK (ship building) etc. saved a lot of valuable assets. You know, the business in the early-mid 1990s wasn't really hurry to somehow utilitize such assets with big added costs (let alone hi-tech), concentrating more on natural resources with minimal processing if any, or some 'cheap' industries like building construction, retail chains, light industries, i.e. smth on what you can profit relatively easy and fast. So hi-tech and other 'burden' assets have received bad handling, which desribed in funny word "prikhvatizatsiya", which is Russian compound meaning "looting + privatization" ;D Putin might not be a great economist, but he's a good manager. |
Shows how much you've been paying attention.
That quote was from said article.
Also no. Oil production growth slowed in 2004 essentially stanganting in growth rate. Right after russia taking over and it stagnated by 2005.
It's so drastic it'd be silly to assume there is any other cause, espiecally when Russia has plenty of untapped oil.
