Lurching Into the Fast Lane; Industry in Russia  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 404 no. 8793 (Jul. 2012), page 53-54.
Topik: International Trade; Regulation; Economic Conditions; Many-industries; International Relations; Legislation

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.72 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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On July 10th Russian lawmakers ratified their country's entry to the World Trade Organization (WTO). Russia should formally join the global free-trading club next month, and is supposed to phase out most of the trade barriers that protect its domestic industries by 2018. This may be a huge shock to Russian manufacturers, but also a terrific opportunity. Foreign markets will open up, and Russian firms will have to compete with the world's best. Russia's economy today depends to an alarming degree on pumping and digging things from the ground. Yet the country also has some serious industries apart from oil, gas and minerals. Take the Gorky Automobile Plant (GAZ) in Nizhny Novgorod. It was founded in 1929, when the Soviet Union, keen to create a national motor industry, asked Henry Ford to help set up a huge car factory. It went on to make lorries, vans, military vehicles and cars, including the bulky Chaika limousines given to officials not grand enough for a Zil. Today GAZ belongs to Oleg Deripaska, an oligarch who grew rich in the "aluminium wars" of the 1990s, when new tycoons fought over formerly state-owned mining assets.

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