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Russia is a treasure trove of mineral wealth(Oil, Gas, Coal, Metal). The country is a giant in the agriculture sector(Corn, wheat, soy). All of those are in great demand in the Chinese market. While Russia's education supplies top-notch graduates for first-class technical institutes like Tsagi Aerospace etc. Their armament industry is innovative and wide. Her industry supply chain is more or less self-sufficient. Granted with so much money pouring into the economy inflation is inevitable. But at 7% it is no worse than the US. Russia can continue to pursue this war forever!Russian growth is only due to increased spending for its war economy which is clearly not sustainable. Inflation is 7-8% with interest rates at 16%. GDP growth was also negative in 2022, so 2023 growth was from a very low base.
Russia has no sustainable path to growth which is why the IMF predicts a stagnant GDP through the end of the decade.
Meanwhile US GDP will cross $30T within 2 years and $40T in a decade.
Russian dissident is unreliable The ruble has been strengthening since late last yearThe ruble is rubble.
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'Crisis Of Confidence': Ruble's Plunge Prompts Policy Clash In Russia As Costly War Drags On
The ruble has been falling as Russia’s war on Ukraine drags on with no sign that Moscow intends to pull back. While there are underlying causes such as shrinking net exports, some experts also see a ‘crisis of confidence’ in the currency and its plunge has set off a tug-of-war over economic policy.www.rferl.org
“There is a crisis of confidence in the ruble,” Sergei Aleksashenko, a former Russian central bank chief who is now a vocal Kremlin critic, said in a tweet following the August 15 rate hike. He predicted rate increases would have little impact on the currency.
Russia is a treasure trove of mineral wealth(Oil, Gas, Coal, Metal). The country is a giant in the agriculture sector(Corn, wheat, soy). All of those are in great demand in the Chinese market. While Russia's education supplies top-notch graduates for first-class technical institutes like Tsagi Aerospace etc. Their armament industry is innovative and wide. Her industry supply chain is more or less self-sufficient. Granted with so much money pouring into the economy inflation is inevitable. But at 7% it is no worse than the US. Russia can continue to pursue this war forever!
It doesn't matter what IMF said It is more important what China said. So far China confirms the limitless friendship between China and Russia. US inflation of 3% is a myth just check the price at the supermarket 18oz oil goes from $2.75 to $3.86. I can go on and on. US uses creative ways to calculate the inflation rate.The IMF projects Russian growth to be stagnant over the next 5 years. Their top minds immigrate to the West, their arms exports have plummeted due to there awful performance in Ukraine. An US inflation is around 3%.
Russias economic future looks awful, while US GDP will cross $40T in a decade.
Their top minds immigrate to the West
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