While browsing news headlines, I came upon a very interesting article about how the crisis has taken on its toll in Russia and how they were handling it.
Currently, the Russian stock market is closed and for good reasons. When the market falls 11.3 percent in half an hour, that surely is a danger sign. That was almost double what CAC40 experienced in a time period of 3 months. You would think that this would cause grand instability and chaos in the Russian economy. However, that is not the case.
In my previous post, I was discussing the role of the media and how it has an influence on people's perceptions of the economy. It looks like the Russian government read my last blog post and are strictly controlling the media. It is forbidden to use the word "crisis" when talking about Russia. You can't say shares are plunging but must use neutral terms. Opinion polls show that Russians think that the economy is in very good shape.
Although I am a firm believe in freedom of speech, Russia shows a good example where the media is controlled in some way in desperate times to achieve stability.
Currently, the Russian stock market is closed and for good reasons. When the market falls 11.3 percent in half an hour, that surely is a danger sign. That was almost double what CAC40 experienced in a time period of 3 months. You would think that this would cause grand instability and chaos in the Russian economy. However, that is not the case.
In my previous post, I was discussing the role of the media and how it has an influence on people's perceptions of the economy. It looks like the Russian government read my last blog post and are strictly controlling the media. It is forbidden to use the word "crisis" when talking about Russia. You can't say shares are plunging but must use neutral terms. Opinion polls show that Russians think that the economy is in very good shape.
Although I am a firm believe in freedom of speech, Russia shows a good example where the media is controlled in some way in desperate times to achieve stability.
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