Kudrin noted that the current crisis in the global economy and financial stimulus measures are unprecedented. Therefore, in his opinion, it is hard to say how long the countries will be able to continue “such massive cash injections and how they will influence their balance sheets as early as a year or two”, including sovereign debts which, according to his estimates, will exceed the critical level even in developed countries, which could impact the capital market environment.
The minister emphasized that for the time being it is premature and difficult to talk about steady growth of the national economies. “Goods stockpiles are on the rise, but it’s hard to say we’re seeing sustainable growth,” the vice prime minister said.
Thier stockpiles look like trouble because they need a buyer. If we have to grow now how could they did not know that two years ago. Bear Stern had a roll in a meltdown in with policies of Russia who was in energy wars with George. So maybe they learned their lesson, or waiting for the next punch to someone
Russia doesn't really have an "economy" in a real sense of the word, because Putin didn't diversify the Russian economy. In fact he made it even more consolidated and entirely dependent on commodities, which helps him temporarily to hold hostage and terrorize Europe, but that is as far as it goes :
Two-Speed Global Recovery On Display At Davos Gathering - CNBC, 2010 January 25, by Albert Bozzo
When it comes to global growth this year, BIC will lead the way — Brazil, India and China, though probably in reverse order. (Forget BRIC, as Russia may not even emerge from recession in 2010 without a jump in oil prices, according to some economists.) Developing Asia, Latin America and even the Middle East will also post above average growth rates with the weakest showings coming from Japan, Europe and the U.S. (in that order). “This is shaping up to be a two-speed global recovery,” says Nariman Behravesh, chief economist at Global Insight, who’ll be among the 2,500 people at the World Economic Forum’s annual meeting in Davos, Switzerland Jan. 27-30. "The emerging economies of Asia are certainly putting in a strong performance,” says Eswar Prasad, a former IMF economist now with Cornell University and The Brookings Institution. “They were strong in 2009 and they are likely to turn in an even stronger performance in 2010. The big question is whether this is going to be a sustainable performance because of domestic demand.” That's a common assessment, from Wall Street economists to academics to NGOs, such as the World Bank, and may wind up being an important area of discussion at the event, whose main theme is the amorphous, "Rethink, Redesign, Rebuild." ..... If you hear the word BIC in Davos this week, don’t think people are talking about the French pen company, although it may present a temporary but lucrative marketing opportunity.