Economic Crisis


A Reality Check for Russia’s China Pivot

The recent decline in the Chinese stock exchange reveals economic weaknesses that Russia had been trying to ignore. Russia’s relationship to China has too many emotional mood swings and needs to be more pragmatic.

Russia’s Long-Term Oil Blues

Russia’s oil and gas industry faces long-term systemic problems, even in the unlikely scenario that the price of oil rises sharply again. This has severe implications for the country’s economic prospects.

Glazyev’s Economic Policy of the Absurd

A new set of economic proposals by Sergei Glazyev defy generally accepted economic theories and historical experience and would probably ruin the Russian economy if accepted. Is there a political rather than an economic rationale to them?

Just an Oil Company? The True Extent of Russia’s Dependency on Oil and Gas

Official statistics suggest that Russia’s oil and gas industry accounts for only a quarter of the country’s GDP. However, when other factors are factored in, the economy is seen to be much more heavily dependent on hydrocarbons. With oil prices looking set to stay low for a long time, this is bad news for the Russian economy.

Sino-Russian Trade After a Year of Sanctions

Putin's visit to China is his first since the West's introduction of sectoral sanctions against Russia. Moscow’s hopes for greater engagement with China have gone unfulfilled. Due to falling commodity prices, sanctions, the volatility of the ruble and the economic crisis in Russia, trade and investments continue to decline, while agreeing on new deals is becoming increasingly difficult.

Myths and Realities of Sanctions in Russia

The Russian elite and public are propagating certain myths that Western sanctions are not hurting or are even helping Russia's economy. The reality is much bleaker: sanctions are here to stay for a long time and there can be no healthy economic development while they are in place.

Why Moscow Opposed Grexit

Putin phoned IMF chief, asking the Europeans to support Athens in any way possible. It is likely that Obama asked to do the same thing: there is no indication that Greece was ever a point of contention between Russia and the United States—despite Greece’s position on the Ukrainian crisis, its anti-Western rhetoric, and Tsipras’ friendship with Putin

The Greek No: How to Sacrifice a Nation With Its Consent and Not Lose

While using terms like democracy and justice, Syriza has presented Europe with a third-world understanding of these concepts. For the Greek leadership, a nation’s collective dignity is more important than personal dignity, and someone else is always to blame for our misfortunes. What should Europe do with the rebellious nation while holding the bloc together in the process?

Occupy Europe

A party of professional protesters is now calling the shots in Greece. So why are we surprised that their time in office has yielded little except more protests? In recent decades, Greeks have gotten used to negotiating with the government through pickets and protests. But what works at home, doesn’t work abroad

Maidan Redux in Armenia?

The Armenian protesters are motivated by socio-economic issues and the desire for social justice—not larger notions of democracy that constitute international human rights advocacy.
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