Putin speaks the Davos urp-fest tomorrow, and has a lot to feel chastened about since his previous, boastful appearance–not that he will. This quote hits the nail on the head, though:
“Putin will attempt to paint Russia as a willing player looking to deepen its integration into the global economy and eager to attract global investors,” said James Beadle, chief investment strategist at Pilgrim Asset Management in Moscow. “Sadly, Russia has berated and abused many of its global partners, and now that the stakes have balanced, few will trust this new, benign rhetoric.”
Fool me once, shame on you. Fool me twice, shame on me. Anybody who buys what Putin is selling is a fool. But very early on in the history of this blog, and many times since, I’ve expressed amazement at the credulity of western investors when it comes to Russia, and their belief that they’re special and will avoid becoming just another statistic. We’ll see if Putin can succeed, yet again, playing Lucy with the football, with western investors reprising their role as Charlie Brown. Beadle thinks not. I’m not so sure.