century, Brasil, Russia, India and China (the BRIC nations) were re-emerging as drivers of economic growth from outside North America and Western Europe. In the early stages after the Cold War, Russian president Boris Yeltsin stared down an attempted restoration of Sovietism in Russia, and pursued closer relations with the West. Amid economic turmoil a class of oligarchs emerged at the summit of the Russian economy. Yeltsin's chosen successor, the former spy, Vladimir Putin, tightened the reins on political opposition, opposed separatist movements within the Russian Federation, and battled pro-Western neighbour states like Georgia, contributing to a challenging climate of relations with Europe and America. Former Soviet satellites joined NATO and the European Union, leaving Russia again isolated in the East. Under Putin's long reign, the Russian economy profited from a resource boom in the global economy, and the political and economic instability of the Yeltsin era was brought to an end. Elsewhere, both within and without the West, democracy and capitalism were in the ascendant – even Communist holdouts like mainland China and (to a lesser extent) Cuba and Vietnam, while retaining one party government, experimented with market liberalisation, a process which accelerated after the fall of European Communism, enabling the re-emergence of China as an alternative centre of economic and political power standing outside the West. Free trade agreements were signed by many countries. The European nations broke down trade barriers with one another in the EU, and the United States, Canada, and Mexico signed the North American Free Trade Agreement (NAFTA). Although free trade has helped businesses and consumers, it has had the unintended consequence of leading companies to outsource jobs to areas where labor is cheapest. Today, the West's economy is largely service and information-based, with most of the factories closing and relocating to China and India. European countries have had very good relations with each other since 1980. The European Union has become increasingly powerful, taking on roles traditionally reserved for the nation-state. Although real power still exists in the individual member states, one major achievement of the Union was the introduction of the Euro, a currency adopted by most EU countries. Australia and New Zealand continued their large multi-ethnic immigration programs and became more integrated in the Asia Pacific region. While remaining constitutional monarchies within the Commonwealth, distance has grown between them and Britain, spurred on by Britain's entry into the European Common Market.