Investor Presentaiton
-0.8
1.2
1
0.8
0.6
0.4
0.2
-0.2
0
Evolution of the Elasticity of Substitution
•
•
The elasticity of substitution between the EU and Russia in China
has experienced a dramatic decline over the past years.
The EU and China have maintained a competitive relations in the
Russian market, but the elasticity has increased during the last
three years when EU-Russia relations sharply deteriorated.
The Substutability of EU and Russia Competition
in China
The Substutability of EU-China Competition in
Russia
1998-2004
1999-2005
2000-2006
2001-2007
2002-2008
Period
2003-2009
2004-2010
2005-2011
2006-2012
2007-2013
2008-2014
2.5
2
1.5
1
0.5
Elasticity of Substitution
0
1998-2004
1999-2005
2000-2006
2001-2007
2002-2008
2003-2009
Period
2004-2010
2005-2011
2006-2012
2007-2013
2008-2014View entire presentation