Bellerbys Economics - Mr Stephenson

Friday, May 26, 2006


Continuing our recent round-up of key news items from the countries where most of our students come from, let's take a quick look at Kazakhstan - a country rich in oil and gas reserves, at least for the next twenty years - but which is also investing heavily in infrastructure, human capital and diversification projects.

The new Atasu-Alashankou pipeline to China has opened providing Kazakhstan with a new giant customer for its oil to the east as well as its lucrative pipelines to the west (via Turkey) and to the south via Pakistan. New agreements with Iran have also been formed to exchange oils as the two countries produce two different types. This is good news for Kazakhstan who now have many nations competing for their oil.

Some efforts are being made to look more closely at environmental problems with the building of a waste-sorting plant and in some ways this is linked to the greater emphasis on tourism in the new economic plan. Kazakhstan is a very beautiful country but because of its location has so far not been able to exploit this resource economically.

More women are now entering business in Kazakhstan increasing GDP further.

The big question at the moment, however, concerns the President's health. Recent photographs have shown that he is not a healthy man - and the question must be - what comes next? Is the transition mechanism already in place or will we enter a period of disruption whilst different government factions fight amongst themselves for first place in the new government?


  • Even in Kazakhstan it is not clear who may be mr.Nazarbayev's successor. Yet many people believe that most probable variant is his welthy-son-in-law Timur Kulibayev either himself or someone who is considered to be from his coalition, particularly mr.Tasmagambetov - currently a mayor of city Almaty. Kulibaev is one of the most powerful figures in kazakh business world. He owns two out of four largest kazakh banks, contols transportation of oil and this is seems to be only top of the iceberg.

    By Anonymous Anonymous, at 6:19 pm  

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