1. Russain Currency Crash In August 1997
One of Russia's main exports is oil, and the decline in price has greatly reduced Russia's trading power on the international market. ... The Economist article "Russia, financial outcast", notes that many teachers, who earn $20 a month in Russia, have not been paid in over a year. ... Many Russian politicians believe that the Western-backed practices such as budgetary stringency and privatization are to blame for Russia's current problems. ... Russia adopted the promised reforms. ... Russia represents a fantastic market opportunity for America. ...
- Word Count: 4431
- Approx Pages: 18
- Has Bibliography