Analytics // Economy & Finances

After the collapse of the USSR in 1991, the Russian Federation adopted, through what it was called the “shock therapy”, the market economy and the capitalism system. 4 years later, as a consequence of an always more globalized economy, the former trade agreement called GATT (general agreement on tariffs and trade) was replaced by a new entity: the world trade organization (WTO).

Russia in 2010, after having to deal these last two years with a dramatic decline of its economy, can see the future with more optimism.

Earlier this week, British company Desire PLC began drilling in an offshore block of theFalkland Islands. Immediately, Argentina President Cristina Fernandez de Kirchner let loose with a howl of rage, and the Summit of Latin American and Caribbean Unity issued a protest against the British company's drilling operations.

Plutus, the Greek god of wealth, did not have an easy life. As the myth goes, Plutus wanted to grant riches only to the "the just, the wise, the men of ordered life." Zeus blinded him out of jealousy of mankind (and envy of the good), leaving Plutus to indiscriminately distribute his favors.

Commodities, particularly crude, were trending down last week after China's Central Bank raised bank reserve requirements boosting the US dollar against other major currencies...

Investors could see some long-term trade and other benefits if a U.S. move to back away from a missile shield in Eastern Europe yields improvements in relations with Russia.

But it could raise other risks.