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>The only reason the Russian economy even survived this long (since the cold war) is because western tech and know how unlocked oil and gas that was selling for
by gragas 10y ago
>The only reason the Russian economy even survived this long (since the cold war) is because western tech and know how unlocked oil and gas that was selling for $150 a barrel.
Actually, that's the whole reason why the Russian economy is doing so poorly as of late. When an economy is based largely on oil exports, and suddenly the price of oil cuts in half, the economy takes a huge hit.
Putin has spent much of his incumbency trying to diversify Russia's economy (at least so that it relies less on oil and exports). I'm not sure of a different strategy that would lead to a better economy in the long run.
- avmich 10y ago> Putin has spent much of his incumbency trying to diversify Russia's economy I'd say Putin was declaring efforts to diversify the economy. In practice necessary actions weren't taken in needed quantities. There are good examples of saying one thing, doing completely the opposite with the modern Russian government. That difference is a part of why it's hard to deal with Russia.
- gragas 10y ago>I'd say Putin was declaring efforts to diversify the economy. In practice necessary actions weren't taken in needed quantities. You're probably right about that. But even then, oil has largely contributed to the recent downsides of Russia's economy, has it not?