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I keep hearing from Western pundits that Russian economy is tanking, but isn't it the other way around? The US economy is doing very bad, energy prices are skyr

by hsn915 4y ago

I keep hearing from Western pundits that Russian economy is tanking, but isn't it the other way around? The US economy is doing very bad, energy prices are skyrocketing, and Europe is looking into a freezing cold winter. Meanwhile Russia has surplus energy and is making global strategic alliances with China and India and other potentially smaller player. Turkey is playing the role of a neutral mediator between Russia and the West. The US doesn't even have its house in order: massively polarized society with the gap between left/right drifting wider and deeper.

poisonborz 4y ago
Russia just showed very clear to the whole world how weak it is. In this light, non-western players happily take their gas/oil/money and trade, but it's them who make the rules and the prices. Soon they will make economical inroads and make the country dependent - even faster if the government destabilizes. They will be as free and self-sufficient on the world stage as North Korea.
deleted 4y ago
[deleted]
it_citizen 4y ago
US and Europe economies are not doing well but it is high likely that Russia will do way worse: > According to independent analysis by the World Bank, International Monetary Fund and The Organisation for Economic Cooperation and Development (OECD), 2022 will be a bad year for the Russian economy. Gross Domestic Product (GDP) is expected to drop by at least 5.5% in the best scenario to almost 9% in the worst scenario. https://www.consilium.europa.eu/en/infographics/impact-sanctions-russian-economy/ https://www.consilium.europa.eu/en/infographics/impact-sanct...
layer8 4y ago
Russia is officially in a recession now, and by their own forecasts will remain so throughout 2023 at least. Europe and the US are not quite in a recession yet, although close to it. GDP growth is predicted to be around 0% for both Europe and the US in 2023. Russia is doing clearly worse right now.
- hsn915 4y ago
  The US is absolutely in a recession, has been so for a while, even though the official and mainstream media has been trying very hard to deny it.
funnymony 4y ago
Usa&Europe going into recession doesn’t mean that russian economic problems disappear.
Ralfp 4y ago
> I keep hearing from Western pundits that Russian economy is tanking, but isn't it the other way around? Last time I've checked Russia had to purchase arms from Iran because they are no longer able to produce those themselves due to severed supply from Europe, while plenty of european countries are increasing military development and production. Russia is also forced to disassembly some of their passenger planes for spare parts because they no longer can ship those from Airbus or Boeing. Russia can no longer import semiconductors from US/Europe, Taiwan, Korea or Japan. This effectively stopped their high-tech industry from working. This hit their civil and military aviation (which includes production of their AA, CM and cruise missiles, and passenger plane program). Civilian production is also seriously affected by the sanctions. Lada cars are now produced in very basic variant due to no access to parts from EU or Asia. Russia is also recommissioning soviet-era arms because they are no longer able to use their "modern" tech without weakening their military on other fronts. Because Russian government is de facto a mafia state, the govt itself considers large companies ran by people outside of oligarchy a threat to itself, meaning that Russia has no national industry it can turn to for filling in the gaps created by sanctions: https://twitter.com/kamilkazani/status/1501382714427166721 https://twitter.com/kamilkazani/status/1501382714427166721 Bank of Russia is doing whatever it can to protect country's economy from crisis, but they are doing it in same way that Turkey does: through selling their reserves. They can't do that forever.

by hsn915 4y ago

poisonborz 4y ago

Russia just showed very clear to the whole world how weak it is. In this light, non-western players happily take their gas/oil/money and trade, but it's them who make the rules and the prices. Soon they will make economical inroads and make the country dependent - even faster if the government destabilizes. They will be as free and self-sufficient on the world stage as North Korea.

deleted 4y ago

[deleted]

it_citizen 4y ago

US and Europe economies are not doing well but it is high likely that Russia will do way worse: > According to independent analysis by the World Bank, International Monetary Fund and The Organisation for Economic Cooperation and Development (OECD), 2022 will be a bad year for the Russian economy. Gross Domestic Product (GDP) is expected to drop by at least 5.5% in the best scenario to almost 9% in the worst scenario. https://www.consilium.europa.eu/en/infographics/impact-sanctions-russian-economy/ https://www.consilium.europa.eu/en/infographics/impact-sanct...

layer8 4y ago

Russia is officially in a recession now, and by their own forecasts will remain so throughout 2023 at least. Europe and the US are not quite in a recession yet, although close to it. GDP growth is predicted to be around 0% for both Europe and the US in 2023. Russia is doing clearly worse right now.

hsn915 4y ago
The US is absolutely in a recession, has been so for a while, even though the official and mainstream media has been trying very hard to deny it.

funnymony 4y ago

Usa&Europe going into recession doesn’t mean that russian economic problems disappear.

Ralfp 4y ago

> I keep hearing from Western pundits that Russian economy is tanking, but isn't it the other way around? Last time I've checked Russia had to purchase arms from Iran because they are no longer able to produce those themselves due to severed supply from Europe, while plenty of european countries are increasing military development and production. Russia is also forced to disassembly some of their passenger planes for spare parts because they no longer can ship those from Airbus or Boeing. Russia can no longer import semiconductors from US/Europe, Taiwan, Korea or Japan. This effectively stopped their high-tech industry from working. This hit their civil and military aviation (which includes production of their AA, CM and cruise missiles, and passenger plane program). Civilian production is also seriously affected by the sanctions. Lada cars are now produced in very basic variant due to no access to parts from EU or Asia. Russia is also recommissioning soviet-era arms because they are no longer able to use their "modern" tech without weakening their military on other fronts. Because Russian government is de facto a mafia state, the govt itself considers large companies ran by people outside of oligarchy a threat to itself, meaning that Russia has no national industry it can turn to for filling in the gaps created by sanctions: https://twitter.com/kamilkazani/status/1501382714427166721 https://twitter.com/kamilkazani/status/1501382714427166721 Bank of Russia is doing whatever it can to protect country's economy from crisis, but they are doing it in same way that Turkey does: through selling their reserves. They can't do that forever.