A gipsy girl speaks on mobile phono in Russia's Nizhni Novgorod city.
Photo: Roman Yarovitsin
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Russia First Outpaced China as Emerging Economy
First time in history, Russia has outpaced China in the Goldman Sachs (GS) rating of emerging economies, Vedomosti reported.
GS has been releasing the Growth Environment Score since 2005, compiling it in view of macroeconomic stability, macroeconomic conditions, human capital, political conditions and technological capabilities. The index covers 181 states overall.
Russia has climbed from the 140th position to the 66th one over ten years. It has outpaced China in the latest rating and emerged as a new leader of BRIC (Brazil, Russia, India and China).
Russia has finally prevailed on more rapid spread of mobile communication and PCs and due to degradation of such parameters as the rule of law and corruption in China. Norway has the top score in the rating and Iraq is rated the lowest.
www.kommersant.com
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