FROM THE EDITOR

Jemal Inaishvili

The world is facing important economic crisis, fall has already started at leading stock exchanges.

As George Soros stated at the annual meeting of the World Economic Forum in Davos, developing countries would be less affected by the fall, but OECD Secretary-General, developer of Sarcozy ’s ideas, Angel Gurría demanded to increase members from 7 to 13 in a group of leading industrial countries and to include China and India in it as they influence the world economy. According to him, the crisis will be significant and it will concern markets of developing countries as well. Therefore, in our opinion it would be greatly important to calculate current recessive and possessive processes in Georgia. We have paid utmost attention to 2007 report and 2008 forecasts.
No one argues on the necessity of improving relationships with Russia, but one thing is obvious: the issue is not simple and linear, as Russia’s main direction is to become hegemonic in gas supply, the spot where our interests usually don’t meet. January was full of events. You can find an article – ‘Russia has created a gas OPEC’ on the above mentioned as well as on economic opposing relationships between Russia and Georgia. This is the view that will inform us on Russia’s de-facto situation on the basis of fact analyses (pg.8). The issue of selling the last Mohican of a large state object – railway seems to be acute. It’s not an ordinary large object; it is the means of strategic turnover and international integration. Attitudes regarding the object have improved. It is not an income through railway that really matters. What really bears importance is an economic and employment growth through this business. Optimal and competitive development of the railway will support the issue. This is the deciding factor and the world has lots of samples of packing and turning objects like this into Joint Stocked Companies in Europe and the US. Therefore, the matter requires serious discussions and we go back to it once again (pg.13). We have paid greatest attention to economic education and generally higher education in this edition. On December 27, 2007 we arranged a conference on ‘Georgia’s Economic Challenges 2007 – Scientific View’. Quite an interesting discussions took place at the conference once again on such important matters as inflation, GDP and account methodic challenges, different bank products and scientific analysis of problems etc. Interuniversity conference was organized by seven leading universities that have business faculties or business fields.
You can find the conference report as well as results of the competition announced in summer 2007 on the best economic works. We plan to arrange the conference annually together with partner universities. It will give a research component range of opportunities in education. The matter is really important as, to put it mildly, there has been a lack of academism in our economic policy. According to new challenges it is going to be quite useful for the realization of new government’s program.
In addition, we show Bologna process support group activities working on a new recommendation list of specialties and specializations according to Dublin descriptor in higher education institutions. The document adopted as the result of the groups’ activities is available in the present edition. Bringing specialties of our higher education institutions near to the European ones in the direction of business.
Students should be given more opportunities to relocate. As for employers, they should find it easier to employ them. Our heading – business school continues to publish interesting materials; we traditionally offer you economic news and scientific blocks. I wish you good luck.