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International strategic management Individual assignment - Essay Example

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Since the introduction of Boris Yeltsin of democracy to Russia in the early 90's the country has emerged as one of the fastest growing economy in the world. In a span of 15 years, the country has become one of the economic giants in the world and assumed the presidency of G8 in 2006…
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Download file to see previous pages However, before plunging into the deeper perspective of the said topic, looking into the history of democratic government of Russia as well as its inclusion to the G8, and how G8 was formed, is an important thing to do to further assess the capability of the said country to lead in a prestigious and important group such as the G8.
Also, there are those who doubt the capability of G8 as some have claimed that Russia has still remnants of communists' ideology which is in contrary to the ideals of G8. In this case, there are those who claim that the country's loyalty to G8 is still in question as there are still hanging issues with regards to the country, and therefore the country must first arrange its internal problem before venturing into such issue.
If we are to deal with history, the country has engaged into cold war with the United States and other countries. This was due to the decision of the former Soviet Union to have a socialist/communist government in the aforementioned country. This made USSR engaged in a long-tern economic hiatus on trade, investments and other related endeavors which deprived the country of enjoying several economic benefits and international tie-ups with regards to trade and investments.
However, in 1991, the country has experienced a tremendous change...
The reforms immediately devastated the living standards of much of the population, especially the groups dependent on Soviet-era state subsidies and welfare entitlement programs. Through the 1990s, Russia's GDP fell by 50 percent, vast sectors of the economy were wiped out, inequality and unemployment grew dramatically, while incomes fell. Hyperinflation wiped out a lot of personal savings, and tens of millions of Russians were plunged into poverty. In August 1991, Yeltsin won international plaudits for casting himself as a democrat and defying the August coup attempt of 1991 by hard-line Communists. But he left office widely despised as a desperate, ailing autocrat among the Russian population.
As president, Yeltsin's conception of the presidency was highly autocratic. Yeltsin either acted as his own prime minister (until June 1992) or appointed men of his choice, regardless of parliament. His confrontations with parliament climaxed in the October 1993 Russian constitutional crisis, when Yeltsin called up tanks to shell the Russian White House, blasting out his opponents in parliament. Later in 1993, Yeltsin imposed a new constitution with strong presidential powers, which was approved by referendum in December"
The said move was deemed by the Russian as the dawn of the new day for them as they have seen several investors and trade agreements which boosted the economy of the said country. However, in 1998, the country has experienced downfall of the economy in line with the economic crisis in the world. This prompted Yeltsin to tender his resignation on the eve of New Year in 1999. Vladimir Puttin succeeded the leader and has ...Download file to see next pagesRead More
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