tag:blogger.com,1999:blog-25230932.post7547368780227014694..comments2023-10-06T10:10:06.982-04:00Comments on La Russophobe: Annals of the Russian "Economy"La Russophobehttp://www.blogger.com/profile/05672264388217953086noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-25230932.post-11758658897281244192007-08-19T15:48:00.000-04:002007-08-19T15:48:00.000-04:00Don't worry phoby, this problem will solve itself....Don't worry phoby, this problem will solve itself. You see, you also posted an account of Russia's declining natural gas exports. And Russia's oil exports are going to decline too, as Russia's domestic energy consumption rises. So Russia's huge current account surplus is on a track to decline, which is no bad thing. Russia's huge trade and current account surpluses are the drivers of ruble appreciation. As those huge surpluses decline, upward pressure on the value of the ruble will decline too.<BR/><BR/>This will increase the competitiveness of Russia's other exports, and reduce the competitiveness of products Russia imports. Thus, Russians will gain income both from increased non-energy exports, and from supplying more of Russia's domestic demand.Anonymousnoreply@blogger.com