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In the Balance: Russia's Paradox

16/11/2013

Russia's Paradox

BBC World Service - In the Balance, Russia's Paradox

Why is the country's economy faltering? And are Russians still obsessed with being first?

Justin Rowlatt and his guests discuss why Russia's economy is faltering despite its vast mineral wealth.  And Colm O'Regan reflects on old  rivalries and his own need to be first.

Russia has incredible mineral wealth, vast supplies of oil and gas, and great fertile plains, yet in the last two weeks it has almost halved its long-term growth forecast.  Justin Rowlatt challenges his guests to explain what's wrong with Russia.  Why can't it live up to its potential?   A recent report claimed that 35% of the country's riches are in the hands of 110 people, but is inequality the problem or a failure to ditch the habits of Communism?  Or is it simply over-dependence on oil?  And in the wake of the Russians sending the Olympic torch towards the final frontier for a historic spacewalk, Colm O'Regan reflects on old rivalries and his own need to come first.

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