Re: Kvetching, was Sarkozy, France etc
On May 9, 2007, at 7:10 AM, Chris Doss wrote:
But this kind of stuff really has a “boy who cried wolf” quality about it for me. It seems like every few months there is some kind of dire prognosis of catastrophe made about Russia that never happens.
You can have a problem without a catastrophe. If oil prices were to
fall hard, Russia would feel it. Investment rates of 18% of GDP are
more like a developed economy (US, EU) than a “developing” one
(China’s at 40%, but that’s almost outlandishly high). You can’t
sustain rapid internal growth with investment rates that low. They
are consistent, though, with an oil- and credit-driven boom.
Are those consumer goods of domestic manufacture or are they imports?
Doug