Submitted by CARPE DIEM

DMITRI A. MEDVEDEV will be anointed president of Russia today thanks to the political handiwork of Vladimir V. Putin. But maybe the real winner is economic globalization.

From December 1999 to the end of 2007, a period overlapping the presidency of Mr. Putin, the value of Russia’s stock market increased from $60 billion to more than $1 trillion (see chart above).

Most Russians do not love Mr. Putin per se, but they love Mr. Putin’s Russia. They love being middle class. They love planning for the future. It is no comfort to the politically persecuted, but average wages in Russia are leaping 10 percent a year, in real terms.

The growing millions of Russian homeowners, vacationers and investors may seem inclined to authoritarianism or just apolitical. But they certainly value a strong ruble, moderate inflation, affordable mortgages, access to higher education, satellite television, Internet connections, passports, foreign visas and — above all else — no economic shocks.

Continue reading the NY Times article on Russia here.

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