Count Witte’s Reforms
nUnder Count Witte, from 1892 to 1903, the government passed high tariffs, improved the banking system, and encouraged Western investment.
•By 1900 about one-half of industry was foreign owned.
•Russia became a debtor nation, but the industries did not produce economic autonomy.
•Even though by 1900 some Russian industries were challenging world leaders, the Russian industrial revolution was in its early stages.
•Its world rank was due to its great size and rich resources, not its technology or trained work force.
