An article in The Economist pours scorn on ‘Putinomics.’ President Vladimir Putin often talks of improving the business climate in Russia, yet his method of governing the country does the opposite. Insecurity and corruption deter investors, with the result that Russia now has three principal exports: hydrocarbons, money (capital flight) and people. Given Russia’s bloody past, the appeal of stability is understandable. Yet the only way for the country to build truly solid foundations is for Mr Putin to espouse the reforms he regards as so dangerous.

Thursday, November 1, 2012