The Modern Economy of Russia

[The Lawspeaker]

This is Russia the largest country on the planet by pure landmass. The country is the centre of many controversies that have today made it a bit of a boogeyman in the international community. It is an enormous military power with the largest nuclear arsenal in the world even beating out the United States which comes as a hangover from when the nation was the centrepiece of the Soviet Union.

But we are not here to look at Russian military assets or speculate about the wild conspiracies that Vladimir Putin is inevitably plotting in the Kremlin as we speak. We are not even here to look at the Soviet Union that one deserves a video all its own, no we are here to explore modern day Russia, which is an economy that really is just not that impressive. Russia is hugely powerful by virtue of its military and political influence but its economy is really nothing to be proud of. It’s current gdp of around 1.7 trillion USD is certainly nothing to be ignored, it puts it in line with countries like Canada or the Brazil but it does not put it in line with the world powers like china or the USA which it is normally compared too.

References -

Novokmet, F., Piketty, T. and Zucman, G., 2018. From Soviets to oligarchs: inequality and property in Russia 1905-2016. The Journal of Economic Inequality Klugman, J. and Braithwaite, J., 1998. Poverty in Russia during the transition: an overview. The World Bank Research Observer
Blasi, J.R., Kroumova, M. and Kruse, D., 2018. Kremlin capitalism: Privatizing the Russian economy. Cornell University Press
Benedictow, A., Fjærtoft, D. and Løfsnæs, O., 2013. Oil dependency of the Russian economy: An econometric analysis. Economic Modelling
Williamson, J., 1993. Democracy and the “Washington consensus”. World development
Williamson, J., 2000. What should the World Bank think about the Washington Consensus?. The World Bank Research Observer Florio, M., 2002. Economists, privatization in Russia and the waning of the'Washington Consensus'. Review of International Political Economy Kulikova, I. and Godart, F., 2014. How history, culture, and demography drive luxury consumption in Russia. In Luxury brands in emerging market
Florio, M., 2002. Economists, privatization in Russia and the waning of the'Washington Consensus'. Review of International Political Economy
Kulikova, I. and Godart, F., 2014. How history, culture, and demography drive luxury consumption in Russia. In Luxury brands in emerging market

[Sarmatian]

There is one basic idea behind Washington consensus - making internal investments into Russian economy impossible. All money for economic development should come from abroad and liberal political block in charge of economic affairs watching for this rule to be universally enforced. That's why government coming up with some weird 'national projects' to be able to spend money on country-wide infrastructure. Another way to spend money internally is corrupted schemes. Large sums are being taken out of official capital flows to be spent on science, defense etc without a chance for anyone to discover it. Of course there is rampant corruption for personal gain as result but it's the only way to keep important institutions alive.

That configuration was created by Clinton's administration and enabled many US and EU entities to enrich themselves immensely. All Russian oligarchs were mere puppets of Western masters. No wonder Clintons hate Putin, he pushed their loyal dogs away from the pie.

[Yamnaya]

Russia will end up like Venezuela if they dont start developing an actual modern industry. Go with nuclear electricity and start preparing for the future when we run out of Oil and Gas. At that moment Russia should be way ahead as they should have way more electrical infrastucture thab the rest of the world that relies in natural resources

[Sarmatian]

Russia will end up like Venezuela if they dont start developing an actual modern industry. Go with nuclear electricity and start preparing for the future when we run out of Oil and Gas. At that moment Russia should be way ahead as they should have way more electrical infrastucture thab the rest of the world that relies in natural resources

Check out available supplies for uranium 235, they will only last for another 100 years or so. The only viable option is developing technology to utilize abundant uranium 238 but there are political obstacles that can't be resolved at the moment.

[Yamnaya]

Check out available supplies for uranium 235, they will only last for another 100 years or so. The only viable option is developing technology to utilize abundant uranium 238 but there are political obstacles that can't be resolved at the moment.

My whole point is that they should diversify their economy

[Hajimurad]

Russian economy is controlled by bunch of oligarchs who make their millions on resource industry and banking. They aren't interested in modernization of economy and support Putin's regime, who protect their actives.

[The Lawspeaker]

2018 - In preparation for the Russian presidential election this month, Putin has promised to address the country’s economic grievances in his next term. However, how he plans to implement reforms is yet to be determined as two rival groups are working on conflicting roadmaps.

[PAGANE]

So what does the US buy from "underdeveloped" Russia. Aluminum and aluminum alloys. The United States does NOT have developed infrastructure, production facilities and resources for such production! - They give BILLIONS for aluminum and parts to Russia. As you know, I suppose duralumin is a major source of aircraft parts.
2. ENGINES AND AIR PARTS
Although the US is the most advanced in the technology, it is silent to buy ENGINES and parts from Russia. The US flies into space ONLY with Russian "antediluvian" engines. Russia produces 715 parts for Boeing! Yes! For American planes. And not from today, but from the time of the USSR!
From Boeing, they never hid that their planes were HALF Russian! Strange as it may be, the US is buying TIRES from Russia! Every year they pay $ 1.5 BILLION for RUSSIAN TIRES!
US Buys Parts For US $ 4.1 Billion For Their Rail From Russia! EACH YEAR.
3. OPTICS AND ELECTRIC LAMPS
The United States pays Russia $ 12 BILLION every year for optics, lasers, scientific equipment, electric lamps and tubes.
I will NOT say that the US is paying BILLIONS for the processing of plutonium.
I will not write about how the United States buys "uranium tablets" for OWN for $ 7.5 BILLION every year.
I will not write how they buy PALLADIUM PRODUCTS (not raw material!) For $ 22 BILLION a year.
I will not write how they buy from "RESTRICTED" Russia ANY technique that falls COLLECTIVELY is not even able to invent, let alone produce !!
What would happen if Russia imposed sanctions on exports of these materials or products ?!

[The Lawspeaker]

Russian economy has been a roller coaster ride for the last 30 years. A few years of stability and then something happens. Lets see what it was like from 1990 to 2020.

[The Lawspeaker]

The ruble, which is the Russian national currency, just experienced a massive crash due to the recent lowering of oil prices. I'm very concerned. Let's discuss it.