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Russia is showing its WTO alternatives – Deutsche Bank economist
Published: 12 August, 2009, 15:32
Vladimir Putin (R), Nursultan Nazarbayev (C) and Alexander Lukashenko (L) (AFP Photo / ITAR-TASS Pool / Presidential Press Service / Vladimir Rodionov )
(16.9Mb) embed videoTAGS: Russia, Russia and the global economy, Economy
Chief Economist of Deutsche Bank in Moscow Yaroslav Lissovolik sees the customs union between Russia, Belarus and Kazakhstan as Russia’s show of alternatives to the WTO.
Russia, Belarus and Kazakhstan say they want to join the World Trade Organization as a single unit. Representatives of the three countries are in Moscow discussing a new customs union.
12.08.2009, 12:25
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12.08.2009, 18:51
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Uhhhhm . . . it should take the WTO about a year to finally decide that it is OK for Kazakhstan, Belarus and Russia to become members as one unit. In another year the world economy should be well on its way down the toilet, so right about then, Kazakhstan, Belarus, and Russia should announce that they changed their minds: they want to enter the WTO as individual states, after all. Oh, and by the way, they will have to fill out all new application forms, in triplicate and with all new references, and there will be another unavoidable waiting period while the WTO ponders their applications. Of course everybody wants to be a member of the WTO and coordinate their own tariffs with everybody else and allow "free trade" regardless of the cost to their home industries. Especially at the beginning of a world-wide depression. It is only fair. Right?