Russia first needs internal reforms in order to take advantage of protectionism. Otherwise it will be another mini Soviet Union rerun
Absolutely, I hope Putin can capitalize on this sudden power and financial vacuum resulting from the sanction
Russia first needs internal reforms in order to take advantage of protectionism. Otherwise it will be another mini Soviet Union rerun
Hence why no tears were shed when oligarch yachts got confiscated. Thanks to that, they took out Putin's enemies for him, and as a bonus made the fence sitters realize that if they don't align with Putin nobody is on their side. They ensured that Putin's enemies will have no wealth or power and Putin's allies retain their wealth and power.Russia is a resource rich state but has no manufacturing to utilize it. Corruption is their biggest and greatest enemy. It is why they are not a superpower. Their elites benefits from this corruption and then are lured to western capitals to hide their wealth and enjoy their lifestyle and women. You can say the soviet union fell because Gorbachev sold the decaying empire for some Mcburgers and some fries.
But that world is ending.
For over 30 years, the west has done a fantastic job in keeping Russia weak. They lure the corrupt elites to their lands, thereby tacitly encouraging their corruption and then on the other hand, sell the promises of globalization to them and they tell Russia to play the role of the commodity supplier. Russia supplies the resource and they get the goods and access to western superior tech and even societies for the few elites.
[China was the cheap goods manufacturer and India, the software experts]
Things will change now. A new order is happening and Russia must first gain some self respects and stop selling themselves to the west. Putin's biggest task should be ending the corruption.
Putin just applied classical socialist theory. The state needed to control the commanding heights of the economy i.e. energy, transportation, telecoms, and media. And if you think he is stuffing himself with money, what about Biden and his son? The fact is we have no proof Putin is stuffing himself with money. While the same is not true for Biden. I do not know how he has not been impeached already.Putin is a big part of this exact problem though and it is my biggest criticism of him as a leader. When he was first elected president and started his war against the oligarchs they should have all been thrown under the bus; instead he allowed those that would be loyal to him to retain their wealth and has put other yes men in charge of powerful companies, all whilst probably making himself the wealthiest of them all.
If you believe the US all you need is low taxes. Russia has 15% flat tax rate. And as long as you keep your nose out of the commanding heights of the economy the government will not interfere with you. If anything I think the major problem Russia still has is a lack of enforcement of anti-competition laws. They need to clean up the judiciary system. But that is not something which will be easy to do.I wonder, before this war started, how much support small businesses in Russia receive which have interests outside of oil/gas/metals in comparison to how much oligarchs have spent abroad on trophy assets like property, football clubs, yachts.
Yes it would have been better if Russia just made corruption legal like the US does with lobbying. Do know a lot of people copy Pelosi's husband's stock portfolio? He always seems to miraculously know which stocks go up and down before it happens.tl;dr When it comes to corruption in Russia specifically, the system that Putin set up is way more to blame than anything the West could have hoped to accomplish.
Wait why was I quoted, I didn't say any of that lmaoHe just applied classical socialist theory. The state needed to control the commanding heights of the economy i.e. energy, transportation, telecoms, and media. And if you think he is stuffing itself with money, what about Biden and his son? The fact is we have no proof Putin is stuffing himself with money. While the same is not true for Biden. I do not know how he has not been impeached already.
If you believe the US all you need is low taxes. Russia has 15% flat tax rate. And as long as you keep your nose out of the commanding heights of the economy the government will not interfere with you. If anything I think the major problem Russia still has is a lack of enforcement of anti-competition laws. They need to clean up the judiciary system. But that is not something which will be easy to do.
Yes it would have been better if Russia just made corruption legal like the US does with lobbying. For example do you do know a lot of people copy Pelosi's husband's stock portfolio? He always seems to miraculously know which stocks go up and down before it happens.
I remember reading that when asked, most of Chinese private companies didnt want to invest in Russia because of its judiciary system and they wanted more law protections for their investments.If anything I think the major problem Russia still has is a lack of enforcement of anti-competition laws. They need to clean up the judiciary system. But that is not something which will be easy to do
When was the last time you used something made in Russia? As far as I'm aware most manufactured goods from Russia goes to ex Soviet countries and Africa.Russia's main problem selling manufactured goods on the global market is competing with a multitude of countries already much better doing those including China. Add to that restricted access to transport, technology, finances, attractive markets and everything in between due to sanctions from the West and I simply don't see Russia having much chance of succes transitioning away from gas, oil and natural ressources as the main source of revenue for the foreseeable future.
Some good points though.
It can become a problem because they will be cornered. Russian got cornered with Nato expansion and look what happened... Nothing good about isolating parts of the globe, it cause only tension and from tension war. Nobody want a direct war with nuclear country but if one of them is cornered bad, it would use them for deterrence or attack and war will happen.The people responsible for the genocide of Iraq are well known as they have no shame and do not hide their complicity. As NATO isolates itself more and more they will find the world around them shrinking and soon there will be no place for them to run to. They won't feel safe even in their own countries.
No commodity-export orientation country has been able to successfully transform to a manufacturing powerhouse so far,they all suffer from dutch disease to certain degree. Latin America tried protectionism and domestic substitution but failed, It's going to be a tough task for Russia.
That. People like her was the main reason I did not vote in last election. I don't think she actually understands much of what her aids prepared for her photo op. I also don't think her aides are real techies. And unfortunately this is a common scene now here in the States. Sigh...sigh...fainting...This US Commerce Secretary seems to be tech illiterate. With such fine people doing trade policy I am sure it is going to work just great.
"If the Chinese send semiconductors then we will deny the Chinese use of that software" I am paraphrasing her here. Makes perfect sense right?
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