November 9, 2011 at 10:58 am #2067
Russia closer than ever to WTO entry
Nov 9, 2011 (Reuters) – Russia is closer than ever to concluding its 18-year-old bid to join the World Trade Organization, a step that would cement Russia’s integration into the world economy two decades after the 1991 fall of the Soviet Union.
A bilateral trade deal signed on Wednesday by Russia and Georgia, a former Soviet republic which Russia humiliated in a 2008 war and had been blocking its entry, puts Moscow on course to join the 153-member trade block before a presidential election next year.
Russia’s entry would further open up about $1.9 trillion of gross domestic product, or 2.8 percent of the global economy, while supporters say WTO rules could help increase the flow of investment into the world’s biggest energy producer.
November 9, 2011 at 10:59 am #4846
Here is update on Russia’s latest bid for WTO status – improved by arm twisting Georgia (who had been blocking its entry after being crushed/humiliated 2008 as article indicates) into bilateral trade deal. There is no way Russia’s track record justifies its entry to WTO and the world should have learned its lesson thru allowing China this status before it adhered to all requirements for WTO status.
Both former communist/government controlled countries have little tolerance for private business ownership – Russia KGB leaders control government ( Putin as prime example) and most China leaders are former communist party leaders (president Hu Jintao) in fact 1 in every 12 adult chinese today are communist. Putin’s vicious attack/takeover of Yukoil & its outspoken president severed as warning prior to Government takeover of Lukoil, Rosneft & Gaszprom to form Russia Oil industry as Geopolitical power that doesn’t hesitate to be used in retribution against contrary political positions to Russia. China’s top 50+ biggest state companies have “red phone” on their desk and executives/staff jump to attention when it rings – and peeking under the hood of the new Chinese decentralized, Hybrid market model of communism shows it is still very recognizable as Lenin’s model/prototype Communist country.
( read is “Chinas Private Party” overview todays Hybrid Communist Party @ http://online.wsj.com/article/SB10001424052748704250104575238590027868792.html and “Petrostate: Putin, Power & New Russia” )
There is a much better case for taking away China’s WTO status than there is to allowing its trading partner in to form a block that totally ignores all the rules and still gets access to most lucrative markets of world without adhering to standards that made them that way. China controls its currency, subsidizes its Agriculture & Refining industries, dumps export product below cost when it is cheaper to do that than subsidize it for domestic use and has become the poster example for pollution and worlds leader emissions due to its lack of environmental investments (thanks useless Kyoto exemption).
Russia’s Geopolitical Oil machine is far too powerful already and Russia is now the #2 country for highest number of billionaires just behind the US.
It should not be forgotten that China horse-traded Russian Kyoto yes vote for future sponsorship to WTO so that it could get the advantage of environmental exemption and still fully trade in lucrative WTO markets. Up to now the US (leaders Clinton – Obama) have also horse-traded votes and support of actions in Mideast in exchange for turning a blind eye to Dark-side actions by both China & Russia in their domestic markets.
Both the 2012 Kyoto Protocol and Russia WTO entry need to be defeated in order to restore fundamental fair trade to Western World developed nations. Allowing Russia to use Georgia agreement farce as entry card is insult to intelligence of any free world country. Assuming leaders lack the courage to oppose Russia WTO entry – defeat of 2012 Kyoto would still level the field “IF” inspections were made so that environmental actions could be confirmed to happen somewhere besides on paper.
November 9, 2011 at 11:50 am #4844
Russia: Still Number One
Russia by Vadim Nikitin | on November 3rd, 2011
After a week of Oligarch wars, Medvedev-Luzhkov sniping, spy-plagiarism and a Victor Bout guilty verdict, its good to know we can still lead the world, even if it is in the corruption stakes.
Its unclear how much the Kremlin paid Transparency International to take Chinas crown (or whether it was more or less than the price of hosting the 2024 World Cup), but one thing is certain: Unfortunately there are no islands of integrity in Russian public and business life, according to TIs Russian director Elena Panfilova.
The key message from the study is that bribe-paying was seen as much more common by businessmen from countries whose governments were also considered to have the least integrity. And presumably, the more bribes are offered, the more likely they are to be taken.
If Russia is this corrupt now, imagine what it was like in the mid 90s?
Well, some unflattering details have emerged, including the use of disabled people as economic human shields!
[blockquote]Abramovich used a series of opaque intermediary companies to reduce Sibnefts tax bill by hundreds of millions of dollars. After Sibneft won control of an oil company and refinery he inserted third party legal entities between the two.
These entities bought oil from Sibneft, then sold it back to Sibneft for two or three times the price, siphoning off the difference.
The court heard these intermediary companies qualified for tax exemptions because they employed disabled people a common, and legal, tax avoidance ruse in Russia at the time. I dont recall why it was done, Abramovich admitted. He insisted, however: These were real people. We paid them salaries.
At least Abramovich should get points for being among the only people in Russia paying anyone any salaries during those years. See? Hes not all bad!
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