Economic Summit in Russia 2010 Recap
In 2009 the Russian Economic Summit was a chance for many nations including the BRIC Nations; Brazil-Russia-India-China to give their
disapproval of the Global Economic Crisis, and they like most blamed the United States of America. The 2010 Russian Economic Summit was a totally different scene, rather than complaining or pointing fingers, it was all about the future, growth, and strength of the economic recovery.
When watching the world news, especially the international business news, one needs to understand there is a lot to know, more than any one person could, or most likely would. It is for this reason I like to discuss such world events with the experts. Imagine my good fortune to meet a scholar of US-Russian post cold war relations? Indeed, Jesse Giraldo was on hand to answer a few of my questions recently. First, I asked; Have you been following the recent Russian economic summit?Jesse replied; Loosely. I’ve read a few reports on the discussions being held between the E.U and Russia. Greece’s fiscal instability, and the
Euros weakening performance seem to be the major issues under review. However so far that’s all that seems to be going on, quite a bit of discussion on what wrong, I haven’t heard anything of actual substance come about other then abstract statements such as their firm resolve to “move forward in their partnership”. The media by and large though seem to feel that this summit has a more harmonic atmosphere to it. I suppose that’s a plus.
Well, all good points, and it certainly beats the previous attacks at the last economic summit where the US was the punching bag for the global economic melt-down. Russian Television seems to be keeping things positive I’ve noted, along with BBC, and CNN International. Too the papers in Taiwan, India, and throughout Europe seem to be playing positive news. So, I concur. It seems folks are so focused on the World Cup Soccer Tournament and the US Open that many are not following the Russian Economic Summit.
China had announced it “will” allow the Yuan to float in coming weeks, right as their banking stocks took a hit, and the Agricultural Bank of China is going for an IPO worth some $33 Billion. Still, the BRIC nations – Brazil, Russia, India, and China are discussing a new reserve currency to settle accounts with, something that was the main theme at last year’s summit. Luckily, this time it is just muddled chit-chat, while the big talk in Russia was about innovation and attracting investment capital into Russia to take advantage of the uptick in commerce.