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business newsRussia Markets: Medvedev Charms Investors, Putin Stays Home
Russia's version of Davos points up the contrasts between its two leaders. But both represent part of the country's future.
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Medvedev told the crowd more or less what they had come to hear: “More integration by Russia into the world economy is one of the scenarios without an alternative,” the President declared in his keynote speech. And a few paragraphs later: “Without a victory over corruption and a quality financial system, we will not achieve a high quality of life.”
Subordinates were more expansive in their promises of Russia with a human face. “What we are doing now will result in a completely different economic structure and offer a completely different potential for foreign investors,” said Igor Shuvalov, the deputy prime minister who acts as the Kremlin’s liaison to global capital.
Only one person couldn’t make it to the glittering confab in his native city, Prime Minister Vladimir Putin. The man still reckoned to be Russia’s supreme leader spent the forum’s opening day at home outside Moscow, detained, so his press office said, by an urgent meeting with the director of the national archives.
Putin’s cold shoulder loomed especially large given that Russia faces a presidential election of sorts nine months from now, and the Kremlin’s choice for the post -- Medvedev again, Putin again, or some dark horse -- remains shrouded in profound mystery. Kremlinologists tried to tease some challenge to Putin out of the subtext of Medvedev’s remarks at the forum. But the prevailing impression was of a leader, or “leader,” bending over backward to avoid confrontation with his one-time mentor and now principal rival for power. Medvedev seemed most direct and sincere when he told the Financial Times he found it “hard to imagine” a struggle for power between him and Putin, whom he described as “my colleague and old friend.”
Russia bears will jump to their usual conclusion that Medvedev is just a pretty puppet manipulated to gull the outside world. He’ll be rudely disassembled in a few months’ time and Putin’s clique will resume the grim business of re-establishing the Soviet Union as best they can. Reality is more complex and at least a bit more hopeful.
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