According to this system, borrowers hold debt, and holding debt means making some sort of sacrifice elsewhere. Savers, on the other hand, have an asset – something of value – which they have built up by foregoing consumption – and they should therefore be rewarded for their efforts.
Russia’s forthcoming accession to the WTO will open new possibilities to strengthen the linkages in the real economy via FDI and trade and to foster financial linkages as well. So far, the financial ties between Russia and CESEE have been closer than those between China and CESEE. Chinese banks have started to invest in CESEE only recently.