Russia and China in WTO - a world apart

An analysis by Reuters reporter, Sujata Rao, says that the kind of export and investment miracle enjoyed by Russia’s fellow-BRIC China after it joined the WTO is likely to remain well out of its reach. Russia is hobbled by a reputation for crony capitalism, red tape and disregard for investors' rights. Optimists hope WTO-entry, which has the blessing of President Vladimir Putin and is bound by strict previously agreed timetables, will instill a sense of urgency into the Kremlin's half-hearted reform efforts, but, even with Kremlin-backing, the proposed changes will take time to take effect.

Wednesday, August 22, 2012