Money Morning, a UK publication said this today in their daily...

Money Morning, a UK publication said this today in their daily email...

But Russia’s probably the most risky for investors. The country is a basket-case in many ways. It has appalling social problems including high levels of alcoholism, HIV infection and suicide. And while surveys suggest that the Chinese population seems largely comfortable with the idea of capitalism, ordinary Russians seem to pine for the good old days.

those Ruskies must be very keen to resolve their drinking problems.

also an interesting article here from last year...
From The TimesApril 13, 2007

Health alert as Russia’s alcohol consumption triplesTony Halpin in Moscow
Russians have gone on an alcohol binge remarkable even by their own formidable standards, according to the country’s chief public health officer.

The average Russian consumes almost three times as much alcohol as he did 16 years ago. A report by Gennadi Onishenko, head of the consumer protection agency, found that Russians drink 15 litres (26 pints) of pure alcohol per year, or half a pint a week, compared with 5.4 litres in 1990. That far exceeds the estimate of 9.7 litres made in 2005. The study calculated that at least 2.3 million people in Russia were alcoholics, and blamed rising mortality rates, particularly among men, on drink.

It voiced alarm that more children were becoming dependent on alcohol, noting that the age at which juveniles started to drink had slipped from 16 to as low as 13. “The ever-higher consumption of alcohol by adolescents and women is especially worrying,” Mr Onishenko said.

While Russians’ love for vodka is undiminished, beer consumption has risen sharply, encouraged by advertisements portraying it as fashionable, the study notes. The popularity of beer among the young created further potential for “mass alcoholism”.Sales of beer and other lower alcohol drinks have tripled since 1998 and accounted for 75 per cent of the 12 billion litres of alcohol sold in Russia last year. Vodka represented 16 per cent of sales by volume, double the level for wines.

Deaths caused directly by alcohol poisoning fell but alcohol-related illnesses continued to account for one in eight of all deaths in Russia.

Alcohol dependence is seen as central to the country’s demographic crisis; the population is declining by 700,000 a year and male life expectancy has fallen to less than 59 years, compared with 72 for women. Russia also suffers significant economic damage because of alcohol abuse among workers.

Mr Onishenko called for a campaign to reduce alcoholism and to improve education. His appeal is likely to fall on deaf ears. Soviet leaders, notably Mikhail Gorbachev, tried without success to curb Russians’ thirst for alcohol.

The Government’s strict licensing system, introduced under pressure from President Putin, prompted concern that poorer people were risking their lives by drinking cleaning fluids as vodka prices rose to pay for the new licences.

Round of drinks

Annual alcohol consumption, litres per head

15: Russia

11.2: UK

9.8: Australia

8.4: US

7.6: Japan

1.5: Turkey

Source: OECD; Rospotrebnadzor