Russia Needs Foreign Capital for Modernization

Discussion in 'General Global Topics' started by Casper, Jan 31, 2011.

  1. Casper
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    FENG Shaolei, the head of the Center for Russian Studies at the East China Normal University (ECNU, Shanghai) share his opinion about new Russia's trend - The Modernization.

    Russia's new round of modernization will coincide with large-scale capital injections, without which modernization would be impossible. As Russia’s strategic partner and neighbor, China is prepared to deepen cooperation with Russia in this field. There is a Chinese saying “A neighbor is better than a distant relative.”

    Russian President Dmitry Medvedev's speech at the World Economic Forum in Davos is an exciting signal. It shows that even after such a crisis as the Moscow airport bombing the Russian political establishment remains confident about the prospects of the country’s modernization and is prepared for a frank exchange of views with the international community on both current issues and future developments.

    Russia is determined to spare no effort to boost foreign investment, and some measures introduced to reach this objective have raised concerns in China. Our experience shows that foreign investment is related not only to growth in capital investment but also to positive effects on new technology, brand building, professional training, and the whole structure of the market system. To some extent, this is also a cultural issue because at the early stages of China's reform, during the period when there was a particularly acute lack of funds, direct investment by overseas Chinese emigrants played a key role for China's development in the 1980s and 1990s, when the Chinese concept on “the homeland” clearly had great significance.

    Full version of the article was publishes on valdaiclub.com
     
  2. mdn2000
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    mdn2000 BANNED

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    Its too bad that Communist countries have a history of not paying their debt, a very risky investment.
     
  3. Oddball
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    Oddball BANNED Supporting Member

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    They forgot to bleat about their "crumbling infrastructure". :rolleyes:
     

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