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July 9th, 2007
Russia and Brazil: Facing the Future
Russia's economy does present some similarities to Brazil's, although it has grown more than twice as fast.
Both countries are heavily dependent on commodities and should therefore diversify into higher-value products. The Russian government has recently taken some steps in this direction particularly with the creation of major organizations centralizing efforts in the defense industry and nanotechnology. Although this is the right step towards a multi-polar economy, having the state head up these initiatives rather than industry may make them less efficient.
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