Obama’s fault?
Trump’s fault?
Xi’s fault?
But but Putin walks on water...
What Russia needs is a free market -- an environment where people can start businesses and use their entrepreneurial skills to create new products.
But such an environment does not benefit oligarchs.
Gee amazing how many good things happen when the US decided to dump it insane 1960s environmental wacko-ism and purse energy independence
Russia could be a great country with a free government and unrestrained capitalism. Alas, it is not.
Given the potential of that country, that’s tragic.
“”””Over the last 11 years, Russia has suffered two devaluations of the ruble and the most prolonged decline in the standard of living in this century, with the economy at the start of this year only 8.8 percent larger than that in 2008.””””
LOL. That is somehow true although not entirely correct.
2008 was a year of global recession and it was fixed quite fast. The real Russian stagnation started in 2014 and was primarily a result of economic war by globalists in form of sanctions and different other forms of economic sabotage.
It also worth mentioning that the current living standards in Russia are only worse comparing to the period of 2007-2013. It is still highest in recorded history in spite of all the sanctions and sabotage.
These are misleading numbers.
2008 was the start of the Great Recession, the worst recession in 80 years.
In the USA, after 2008, our GDP growth has been less than 2.0% per year, which is not good, either.
Also, the average price of oil and natural gas after 2008 - Russia’s most important source of income - has been significantly below the average price of oil and gas BEFORE 2008.
I am no fan of Putin.
But blaming slow GDP growth in Russia only on Putin is not accurate.
I guess he’ll be replaced soon. /sarc
The Russian economy has expanded during Putin’s tenure because oil prices went from about $20 when Putin took office to about $50 today. If oil prices go to $100, the Russian economy will do well again. Think of Russia as the Saudi Arabia of the north, with deserts of ice instead of sand.
Russia could have become a manufacturing destination the way much of Eastern Europe has. The problem is the Russians kept jerking foreign investors around, to the point that investors became gun-shy. Between that and Putin’s kleptocratic ways, the net result is that Russia is basically a petrostate whose economy revolves around oil prices.
Well if Russia/Putin were to leave their neighbors alone instead of invading them then they might not have all the economic sanctions in place against them, and they might be enjoying a much higher level of economic prosperity.
Why, what they need is some democrats to come over
and show them how to do it.../s