Russia
As seen through American eyes, Russia is falling short on the promise of democracy. But, for the people of Russia, the degree of openness and opportunity they enjoy today is without precedent.
The Russian economy has grown exponentially in the past decade-and-a-half as a reborn Russia embraced the power of the marketplace after seven decades of communist failure. Foreign investment in Russia, including $11 billion by American companies, nearly doubled in 2006 to $28.4 billion. U.S. exports to Russia climbed by 20 percent last year to $4.7 billion. Russian exports to the United States totaled $19 billion in 2006, a 30 percent increase from the year before. American businesses from candy to cars now operate in Russia. American businesses in Russia are making money at an astonishing pace. Two-thirds of U.S. companies in Russia are meeting current sales targets and 97 percent expect continued sales growth during the next three years.
To fully realise its investment potential, given its natural resources, large domestic market and relatively low wages, Russia needs to cut further the restrictions facing foreign investors looking to invest in Russian firms.
By Myron Gushlak