Russian officials have been keen to point out that the BRICS and SCO meetings will not overlap. At this stage, this is almost beside the point; the symbolism of simultaneously hosting a group that combines the world’s largest economic growth markets as well as a group that seeks to secure national sovereignty and territorial security over the largest landmass, Eurasia, will not be lost on their populations. Meanwhile, in the West, US President Obama’s jibe about recreating the ‘glories of the Soviet empire’ is consistent with an approach and narrative that look backwards rather than forwards. Western ‘isolation’ of Russia is inspiring the country to create new economic realities that should create the growth towards a more balanced and sustainable economy for decades to come.
Timothy Stanley is Managing Director for Russia and the CIS at Control Risks, the global risk consultancy.
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