Kazakhstan

HighlightsRussian negotiators in Vienna say talks with the West over Ukraine have reached a “dead end.” If talks are verifiably discontinued, global investors should reduce risk in their portfolios.Social unrest in Kazakhstan does not reduce the probability that Russia will partially re-invade…

Highlights We estimate total Belt & Road Initiative (BRI) investment will rise from US$120 billion this year to about US$170 billion in 2020. The size of BRI investments is about 47 times smaller than China's annual gross fixed capital formation (GFCF). Therefore, a slump in domestic…