@Revolution:Global Business News

New Economy, Leadership, Entrepreneurship, Management, Global Business

Russia, China or Beyond

Posted by iBlog on August 23, 2007

For the past five years, Russia and China, as superpowers, seemed on the verge of winning the power and respect that had eluded them over the past century. But lately, they have discovered that they are far from immune from the troubles that have swept around the globe in the wake of America’s credit crisis.

With 10% annual economic growth rates compounding each year, and their markets doubling annually, it seemed there was no stopping them. But suddenly, the real integration of the global economy became painfully apparent. There were new questions about the continued ability of the U.S.–the world’s largest and most developed economy–to continue absorbing Chinese exports, and about America’s continued ability to continue to sop up excess quantities of crude that Russia might pour into international oil pipelines. As result, these two markets began to look somewhat less lustrous.

Read the full article in BusinessWeek.com


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