The Rising Influence of Rising Affluence

[DewDiligence]

Russia’s Parliament approves WTO entry:

http://www.nytimes.com/2012/07/11/business/global/parliament-approves-russia-joining-wto.html

The other members of the W.T.O. had agreed to Russia’s entry in December [#msg-68872488], but acceptance required a vote of the lower house of Parliament, known as the Duma… The Duma voted 238 to 208 in favor of joining, with one abstention.

…The World Bank…has estimated the increased exposure to competition for Russian businesses will improve their effectiveness, hence that of the Russian economy over all, resulting in the growth in gross domestic product of as much as 11 percent.

Investors could benefit from buying shares in foreign companies active in the Russian market [duh], Kingsmill Bond, the chief strategist at Citigroup for the Russian market, wrote in a research note published Tuesday.

See #msg-72855822 for related info.