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In the 50s and 60s, ex-Soviet was competing with the Yanks for world supremacy and were neck-to-neck at the start of the Space Race, which ended with US winning with the moon landing. They still contested with the Cold War, which led to the collapse of the Soviet Empire. With Russia carrying on without their vassal states, the Ruskies seem to be struggling to stay abreast. The US is now the world's only superpower, way ahead in economics, technology, and lifestyle over most of the rest of the world. With the comments below made by Putin, it looks like Russia has stagnated to where the Soviet society was. Communism may appeal to idealists, but it didn't work for our human societies. Despite inherent dark spots, capitalism serves our communities way better than communism ever had.
Cheers!
http://news.xinhuanet.com/english/2015-04/28/c_134189556.htm
Putin bemoans market dominance of Visa, MasterCard
English.news.cn 2015-04-28 02:23:36
ST. PETERSBURG, April 27 (Xinhua) -- Russian President Vladimir Putin on Monday expressed his regret that no local alternative payment system analogous to Visa and MasterCard exists in his country.
Speaking to legislators in Russia's northern capital St. Petersburg, Putin said Russian leaders had for too long assumed that economics and politics were separate domains.
This lack of strategic awareness had allowed Visa and MasterCard to occupy more than 90 percent of the Russian credit card market, the Russian President complained.
Russia must diversify its economy in accordance with the country's Program-2020 development plan, Putin said, including innovation in the financial sector.
Visa and MasterCard made headlines late last year by suspending their operations in Crimea and Sevastapol in accordance with the U. S. ban on trade in services with the region.
In response, a Russian transaction processing initiative was introduced to Crimea earlier this month.
Cheers!
http://news.xinhuanet.com/english/2015-04/28/c_134189556.htm
Putin bemoans market dominance of Visa, MasterCard
English.news.cn 2015-04-28 02:23:36
ST. PETERSBURG, April 27 (Xinhua) -- Russian President Vladimir Putin on Monday expressed his regret that no local alternative payment system analogous to Visa and MasterCard exists in his country.
Speaking to legislators in Russia's northern capital St. Petersburg, Putin said Russian leaders had for too long assumed that economics and politics were separate domains.
This lack of strategic awareness had allowed Visa and MasterCard to occupy more than 90 percent of the Russian credit card market, the Russian President complained.
Russia must diversify its economy in accordance with the country's Program-2020 development plan, Putin said, including innovation in the financial sector.
Visa and MasterCard made headlines late last year by suspending their operations in Crimea and Sevastapol in accordance with the U. S. ban on trade in services with the region.
In response, a Russian transaction processing initiative was introduced to Crimea earlier this month.
