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We’ve never seen a country go backwards as quickly as Russia
"Nearly 1,000 companies have already curtailed operations in Russia. Economic and financial sanctions make it costly to do business there for risk of getting caught up in legal problems. There is also the reputational risk. A spokesman for Goldman Sachs said the investment banking company is winding down business operations “in compliance with regulatory and licensing requirements.”
As for the Russian economy, even before the war, it wasn’t thriving. “Russia doesn’t make anything,” President Obama stated back in 2014. “Immigrants aren’t rushing to Moscow in search of opportunity. The life expectancy of the Russian male is around 60 years old. The population is shrinking.” A 2019 RAND report explains Russia’s shocking deterioration in detail.
In a recent op-ed in Kommersant, a Russian political and business newspaper, a prominent Russian CEO calls for embracing import substitution. There’s just one problem: To make things domestically, you still need access to the global marketplace. The author asks what kind of autarky Russia needs. Economic logic would lead one to answer “none.”"
We’ve never seen a country go backwards as quickly as Russia (msn.com)
"Nearly 1,000 companies have already curtailed operations in Russia. Economic and financial sanctions make it costly to do business there for risk of getting caught up in legal problems. There is also the reputational risk. A spokesman for Goldman Sachs said the investment banking company is winding down business operations “in compliance with regulatory and licensing requirements.”
As for the Russian economy, even before the war, it wasn’t thriving. “Russia doesn’t make anything,” President Obama stated back in 2014. “Immigrants aren’t rushing to Moscow in search of opportunity. The life expectancy of the Russian male is around 60 years old. The population is shrinking.” A 2019 RAND report explains Russia’s shocking deterioration in detail.
In a recent op-ed in Kommersant, a Russian political and business newspaper, a prominent Russian CEO calls for embracing import substitution. There’s just one problem: To make things domestically, you still need access to the global marketplace. The author asks what kind of autarky Russia needs. Economic logic would lead one to answer “none.”"
We’ve never seen a country go backwards as quickly as Russia (msn.com)