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Examines the general context of present and future business opportunities in Russia with particular reference to the recent economic reform process. Covers such areas as the political climate, the state of industry, the evolving private sector, privatization, legal and fiscal reforms, macroeconomic policy, banking, foreign investment, trade, human capital and employment. Concludes that, although the immediate prospects of the Russian economy appear uncertain, the longer‐term potential is huge, considering its possession of certain key advantages that should prove durable.

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