Publisher: Against the Current, Michigan, USA Date Written: 01/11/1998 Year Published: 1998 Resource Type: Article Cx Number: CX12780
THE ECONOMIC CRISIS in Russia is a trigger for the world-wide decline in stock markets and currencies rather than its cause. Russia has been in a sharp economic crisis for a decade, since Gorbachev passed the Law on the State Enterprise, which first introduced market disciplines to the USSR. On the other side, the world is in a supply glut with too many products and not enough buyers. The Russian debt default looks like the first of a number to come.
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