Roberto Abraham Scaruffi: Requiem For Russia's Middle Class?

Wednesday, 8 October 2008

Requiem For Russia's Middle Class?

Russia's leaders point to the fledgling middle class that has emerged in the wake of the country's oil boom as one of their main accomplishments. But with global financial markets in turmoil, credit drying up, and demand falling, the small- and medium-sized businesses that are the backbone of Russia's new middle class could be in peril.