The Russia Balance Sheet

by Anders Åslund, Andrew Kuchins

Overview

Russia has been on a wild roller-coaster ride for the past three decades with no end in sight. Just in the past year as the global financial crisis deepened, the conventional perception of Russia has changed from a "safe haven" from the economic tsunami to one of the hardest hit larger markets in the world. The Russia Balance Sheet provides comprehensive, balanced, and accurate information on all key aspects of Russia's developments and their implications for the United States and other nations. The book argues that, after the strained Bush-Putin years, the Obama administration must seize the initiative to define both its policy toward Russia and the agenda for the many multilateral meetings already planned.

The book offers policy prescriptions for both the United States and Russia. It is imperative that the Obama administration establish an explicit Russia policy rather than subordinating it to other issues in order to enable the administration to make necessary tradeoffs and follow up on promises. An interagency group for Russia has been created under the leadership of the National Security Council's senior director for Russia; this group should determine the Russia policy and issue an NSC directive. As a new Russia policy is crafted and an NSC directive on Russia adopted, President Obama should make a public statement on his Russia policy. Ideally, President Obama would declare his determination to finally persuade the US Congress to graduate Russia from the Jackson-Vanik Amendment to the Trade Act of 1974. As for Russia, it should accede to the World Trade Organization (WTO) to secure its successful international integration and an improvement of its legal standards. The Kremlin needs to introduce transparent procurement procedures for major investments to relieve infrastructure bottlenecks. Property rights must be reinforced and renationalization stopped to ease the problems in banking and energy production. Finally, with the first full-scale summit between Presidents Obama and Medvedev to take place in Italy in July 2009, the authors argue that the two presidents should recommit to fulfilling the April 2008 Sochi Declaration and to reestablishing a broader organized cooperation mechanism between the two countries, like that of the Gore-Chernomyrdin Commission, to promote action and accountability.

Product Details

ISBN-13:	9780881324921
Publisher:	Peterson Institute for International Economics
Publication date:	04/15/2009
Sold by:	Barnes & Noble
Format:	eBook
File size:	3 MB

About the Author

Anders Åslund was a senior fellow at the Peterson Institute for International Economics from 2006 to May 2015. He examined the economic policies of Russia, Ukraine, and Eastern Europe, as well as the broader implications of economic transition. Aslund served as an economic adviser to the governments of Russia in 1991-94 and Ukraine in 1994-97.

Andrew C. Kuchins is a senior associate of the CSIS Russia and Eurasia Program. He is an internationally known expert on Russian foreign and domestic policies who publishes widely and is frequently called on by business, government, media, and academic leaders for comment and consulting on Russian and Eurasian affairs. His more recent scholarship has been devoted to issues including U.S.-Russia relations and the "reset," Russia's Asia strategy, and the role of energy in the Russian Far East.

Editorial Reviews

In this balanced and well-documented book, the authors show that the United States cannot allow itself not to have a consequent and comprehensive Russia policy.

Yegor Gaidar

The Russia Balance Sheet offers by far the clearest and most accurate analysis of Russia's politics, economics, and foreign policy as well as shrewd recommendations for the way America should respond to them.

Michael Mandelbaum

The Russia Balance Sheet is a one-stop shopping source for understanding the factors driving contemporary Russia.... thoughtful, incisive, and provocative. This book is a must-read for anybody trying to unravel the riddle of Russia.

former senator Sam Nunn