The Key to Russia's Economic Crisis

Paper Summary:

This paper explains that the key to solving Russia's economic crisis lies in promoting the country's raw materials industries and in allowing Western investment resources to target these industries. The paper also points out that hard line Communists still in power and the great degree of corruption within the Russian government are the primary obstacles to Russia's economic success. The paper describes the ruinous condition of Russia's economy and what measures must be undertaken in order to pull the country out of the dark ages of Communism and into a modern western style free market economy.

From the Paper:

"About ten years ago, there were no market features in the Russian economy at all. There was no capital market, money market, forex, etc. Yelstin has changed the situation drastically. Today, Russia has a private economy, which is comparable with the state economy. There is still a large portion of industries, such as the raw materials industries and of course transportation, which are state controlled monopolies. However, the main problem in Russia is to avoid a turn back, to Socialism with total government control of the economy."

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