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User:Conservative/International relations and geopolitics (view source)
Revision as of 21:00, April 13, 2024
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Then came the global economic crisis of 2008-2009, throwing into relief problems that had begun to accumulate earlier. Circa 2003-2004, Putin, rather than pushing through more reforms, had started introducing “Putinomics” — an economy increasingly “controlled by the state and friends of Putin,” Guriev said. Despite an initial recovery after the crisis, it was clear that “the growth model of Putin’s first decade was running out of steam,” in Guriev’s words; growth in 2010-2012 began slowing down, reaching a paltry 1% in 2013.
Then came the global economic crisis of 2008-2009, throwing into relief problems that had begun to accumulate earlier. Circa 2003-2004, Putin, rather than pushing through more reforms, had started introducing “Putinomics” — an economy increasingly “controlled by the state and friends of Putin,” Guriev said. Despite an initial recovery after the crisis, it was clear that “the growth model of Putin’s first decade was running out of steam,” in Guriev’s words; growth in 2010-2012 began slowing down, reaching a paltry 1% in 2013.
Afterward, Russia’s economy entered an era of stagnation, akin to the 1970s and ’80s, with GDP growth in 2013-2019 averaging less than 1% a year. Unlike South Korea — which once had a growth trajectory similar to Russia’s halcyon years — Moscow failed to dismantle its system of crony capitalism. Today, Seoul presides over a competitive, post-industrial, knowledge-based economy, while Russia got stuck in the so-called middle-income trap, Guriev noted."
Afterward, Russia’s economy entered an era of stagnation, akin to the 1970s and ’80s, with GDP growth in 2013-2019 averaging less than 1% a year. Unlike South Korea — which once had a growth trajectory similar to Russia’s halcyon years — Moscow failed to dismantle its system of crony capitalism. Today, Seoul presides over a competitive, post-industrial, knowledge-based economy, while Russia got stuck in the so-called middle-income trap, Guriev noted."
Alternative view of Putinomics: [https://www.youtube.com/watch?v=G5PC_2X3eks&t=1s Putinomics: Power and Money in Resurgent Russia], Heritage Foundation: "When Vladimir Putin first took power in 1999, he was a little-known figure ruling a country that was reeling from a decade and a half of crisis. In the years since, he has reestablished Russia as a great power. How did he do it? What principles have guided Putin’s economic policies? What patterns can be discerned? In this new analysis of Putin’s Russia, Chris Miller examines its economic policy and the tools Russia’s elite have used to achieve its goals. Miller argues that despite Russia’s corruption, cronyism, and overdependence on oil as an economic driver, Putin’s economic strategy has been surprisingly successful."
'''Will Russian assets be seized?'''
'''Will Russian assets be seized?'''