That article is about Business Leaders – Russia. Russia has had a long and checkered history as an industrial power. Under the rule of the Czar’s, the country was mostly peaceful and produced many different types of agricultural products. However, the czar’s were overthrown and the Soviet’s soon replaced them.
They had strict communist control of the country and were able to produce a large quantity of everything to give to the people. However, they ran the country dry, and many of the people who did not believe in the communist policies eventually escaped. After the communist government failed, few people wanted to return to the rule of a King. Instead, they formed a democracy, and have been recovering ever since.
While the government of Russia is saying that they are allowing businesses to operate as free enterprises, government intervention is still quite common. The government may also say that they want to infuse capital into a company but takes stock from the company as a reward. This could end up with the government owning much of a “private” industry business. Oligarchies are also common so that prices can be fixed across the nation. Corruption is still quite common, and accepted by the businesses, government and people of Russia. However, some international businesses have been able to enter the area, such as McDonalds and Pepsi.
Russian industry still has produced some of the major products that other countries and economies want. For example, Russia has been the top producer of oil and natural gas over the past few years. They also are near the top when it comes to the production of steel and aluminum. The reliance on these export commodities has made the Russian economy quite turbulent. Whenever Russia loses demand for a certain type of commodity they see a large downturn in their economy. Luckily, Russia has so far been able to pick itself back up after a large downturn.
Russia also has had major currency problems. The Central Bank of Russia had spent up to 1/3 of its total currency reserves in order to keep the rubble from dropping any further in value. However, it has not stopped the further devaluation due to the international economy. The government has also had to bail out the banking sector, which has made some loans quite liberally. Taxes in Russia can be quite high on businesses, especially if they are successful. So be aware that you may be paying a lot more into the government if you find success.