Cumbersome State Intervention Bludgeons Russia’s Markets
Posted on Friday, July 25th, 2008 | In Emerging Markets, Market Commentary, RussiaIt’s a peculiar contrast: Americans are furious with the perceived recession in the economy, caused by bad mortgage debt, poor fiscal planning, high energy prices, and profligate government spending on war, among other factors. This week the Russian stock market is also experiencing a record-breaking crash, despite being based upon what are in my opinion rock-solid market fundamentals. Instead, these problems are being driven by completely avoidable state intervention and an arbitrary legal-regulatory environment. Which problem would you rather have to deal with?
TNK-BP CEO Robert Dudley was forced out of Russia following “sustained harassment.” Will others follow?
It’s been a pretty horrible week in business news over there, and a perfect storm of unrelated events has investors running for the hills.
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Emerging Markets, invest in russia, investing in russia, Market Commentary, Russia, russian stocks
 About Robert Amsterdam (http://www.robertamsterdam.com/)
Robert Amsterdam is a lawyer and an advocate for rule of law. His blog was created to express views which may stimulate debate and discussion on topics of international interest. Robert believes that we live in a world of unchallenged impunity, and he views his blog as merely a small attempt to shine a light on issues he views as important in countries with which he is engaged. He make no apologies or pretense of objectivity - he is merely stating his opinions. |
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