Why invest in a region run by gangsters?

Someone recently asked me if Russia is a good investment. My first instinct was to question why anyone in their right minds would want to invest in a region run by gangsters. Fortunately, I tempered my emotions and gave a more considered view, but the question had got me thinking, particularly when, through the door, came the Global Competitiveness Report for 2007/08 from the World Economic Forum (WEF). This report provides comprehensive information on various aspects of a country’s political, business, cultural and social infrastructure that contribute towards its economic competitiven...