How Russia Is About to Change the World

From 2010 and today still very relevant:

 

In a remote corner of the globe, a port bristles with cranes, smokestacks, mammoth ships—and trouble for Europe.

In January, Russia made a world-changing move. It completed a new oil pipeline and port complex that sets Russia up to become a more powerful oil exporter than Saudi Arabia. The ramifications for Europe and Asia are profound: The shape of the global economy—and the global balance of power—will soon be altered forever.

December 28 was a big day of ceremony in Russia. Prime Minister Vladimir Putin pushed a button that transformed global oil dynamics. The button released thousands of barrels of Siberian crude into a waiting Russian supertanker and heralded the opening of Russia’s first modern Pacific-based oil export facilities.

The New Beverly Hills: Riyadh Overruns Rodeo Drive

One Saudi bought a $27 million estate by helicopter without walking inside, while the Peninsula hotel offers Muslim prayer rugs; those are just two examples of how the super-rich Saudis and Chinese are changing the culture and consumer habits of the Golden Triangle, with 63 percent of spending now coming from international travelers

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“I’ll take that one,” said a Saudi Arabian royal, pointing down from a helicopter while with his realtor on an aerial tour over Beverly Hills’ tony Trousdale Estates. He was picking out a massive 11,000-square-foot estate (complete with pool, picturesque views and two acres of property) — before stepping one foot inside the off-market listing, which was then home to Mary Hart and Burt Sugarman. Instead, according to property records, he paid north of $27 million from the sky to get the couple, who had lived there 25 years, to move out in three weeks so he and his family could celebrate Ramadan in their new digs (once owned by Elizabeth Taylor), says a source close to the owners.

Across town, a woman mulled over a coveted Celine trapeze bag that had just been placed on a Barneys shelf. “You’d better make up your mind fast,” a clerk warned. “If you don’t, within 15 minutes 15 Chinese ladies will snap up all 15 of these bags” at $2,500 a pop.

Afghanistan—Guess Who’s Not Leaving?

Much publicity is being given to the drawdown of U.S. troops in Afghanistan. As to the strength of commitment to and the true nature of the drawdown, we shall have to wait to see what U.S. plan will emerge in the wake of the recent U.S. presidential elections.

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Enter Germany.