Friday, January 25, 2008
Russia: An "Island of Stability"
Who has the chance of coming out ahead as the US economy begins to tank, dragging the rest of the world down? Those who have a lot of oil and depend little on the USA. That means two of my favorite countries: Iran and Russia. Washington's sanctions have forced Iran to turn away from the USA and toward Asia and Europe, and "Russia's exports to the United States account for only 3 percent of its total, compared with 16 percent to Brazil, 19 percent to India and 21 percent to China" (Andrew E. Kramer, "Russia Talks of a Stability Beyond Ties to the U.S.," New York Times, 25 January 2008). The Russians are already crowing: "Russia will be an 'island of stability,' Finance Minister Aleksei L. Kudrin boasted this week at the World Economic Forum in Davos, Switzerland" (Kramer, 25 January 2008).