Medvedev calls for economy reform
Russia has woken up, it needs a new modern manufacturing base as all those countries of whom where importing more than they were exporting.
Russian President Dmitry Medvedev has called for profound reform of the economy in his annual state of the nation address.
The Soviet model no longer worked, he said, and Russia's survival depended on rapid modernisation based on democratic institutions.
An oil and gas-based economy had to be reworked with hi-tech investments.
Inefficient state giants should be overhauled and issues of accountability and transparency addressed, he said.
But Russia will have to cause unemployment till it can re-employ "Ineficient state giants" hmmmn.