Russian Young People are Shaking Off the Old Ways

PanAsianBiz ^ | June 12, 2006 | Dr. Bill Belew

[G. Stolyarov II]

"You can never be optimistic about anything in our country because it will likely end up badly," is the sentiment of the old-timers in Russia.

Youngsters who do NOT remember the Soviet times do not share this sentiment-- nor do they have the aversion to capitalism that their parents and grandparents no doubt have.

Young girls wear spike-heeled boots and tread carefully to keep the mud off.

They also manage bank branches that specialize in giving small loans to entrepreneurs.

Start-ups were few and far between just a few years ago-- bank portfolios have tripled and clients doubled in some places.

"A lot of people want to open shops," is the new sentiment.

Sounds like pessimism is out and optimism is in.

What do you think?

[G. Stolyarov II]

This is good news for Russia's long-term future; the Putin administration-- like the Lukashenko administration in Belarus-- currently relies on the support of older generations who were accustomed to Soviet-style politics and government economic management. If the new generation grows up thinking differently, then eventually the regime will have no choice but to liberalize or lose popular support. See Dr. Belew's blog at PanAsianBiz