The latest buzzword in Moscow is modernisation. Everyone in Russia's chattering classes is using it, from President Dmitry Medvedev to assorted economists, commentators, bankers and businessmen.
It seems to mean many things – from investing in technology to rooting out corruption and cutting back the state's role. It is a response to the shock of the economic crisis that has hit Russia harder than others in the Group of 20 leading developed and developing economies and underlined its failure to diversify from an energy-based economy.
Mr Medvedev seems inclined to a minimalist approach: singling out sectors such as the nuclear industry, information technology, health and aerospace for a surge in state-inspired spending.
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