I was just checking some stuff out on the Internet, as I like to do, recently, and I've discovered something. According to the IMF, the GDP of Russia has fallen down to 1.1 trillion dollars... meaning that Canada's GDP is over 50% more than Russia's. Yes. Canada has 35 million people vs. Russia's 140 million. (Note: Russia's productive capacity is still 2x greater than Canada's (PPP)) China's per capita GDP is 13k dollars per person. Russia's per capita GDP is 8k. Yes. The average Chinese person is twice as wealthy as the average Russian. This calls to question: Is Russia stable anymore? With growth rates of -4% and inflation above 12%, and with the Ruble going under serious devaluation, the country seems like it will soon collapse. Thoughts?
Most economies (not named the United States) are slumping. Russia's is for obvious reasons: - Limited economic exports, natural gas and oil essentially. And under tight national control - Mercy of the oil market, taking hits in revenue due to huge supplies of oil on the market. Canada, Middle East, and even the U.S. have this issue. However, if you're Russia, you almost entirely depend on oil - Corruption and denial, Putin and the Russian people are not supportive of change - Russians are actually kinda lazy. Each hour worked by a Russian contributes to $25 of GDP. Now compare that to an American who contributes $67 to GDP per hour
The economies of the world are kind of a cluster-(swear word) right now. Canada's economy is on the brink of collapse with the housing market and oil, some European countries are still railing from the 2009 crisis, which is only made worse due to sanctions against Russia, oil producing countries are screwed, China's growth is slowing, and the middle east is still being torn apart by war. I would also say that the $25 figure is not true anymore considering how far the Ruble has dropped. With an 8k annual GDP per capita in Russia, Americans make about 6-7 times as much. So your $25 figure is more like $9. I would also add that the crisis in Ukraine/Crimea caused what is called "capital flight" where investors cancel their investments due to the possibility of sanctions. They instead invest in other, more stable countries. Another thing to add is that Russia is one of the most protectionist countries. They've been placing various restrictions on trade (for example, I think they placed sanctions against Canada's pork industry in 2014) which are just making the situation worse.
exactly this ...nothing happens when there's that much corruption and the people don't care. The disparity between the rich and the poor is one of the greatest of any country in the world and it's due mostly to corruption but the Russian people seem to be too ignorant and/or indifferent to care. ..."the practice costs the nations economy between 300-500b a year in. With a GDP of about 1.5t, that represents roughly a 1/3 of Russia's economy" -FRONTLINE (pbs.org)
So Lili, You think the IMF can just make stuff up and everyone will believe it? There are more than just the IMF that keeps track of things. If they made stuff like this up, they wouldn't be trusted by the academic community. They would point out the discrepancies and the IMF would cease to be a relevant organization. Also, what political ends would this data provide for the Americans?
Like any propaganda it would make u feel warm and fuzzy. Lol instead of scared of Russia rising. Ask urself a question, why US/Europe were never able to enforce sunctions against Russia?
just to toss it out there. The last shuttle mission was in 2011. Russian Soyuz-TMA still launches regularly. Last mission was in December 2015. Next in March 2016. Ummm... when is next shuttle mission? Or US can't afford it?
So it's all a conspiracy that Russia's economy is bad? Lmao. Yes. It's all made up. The Russian economy is doing perfectly fine despite economic isolationism, low investment, and low oil prices. That's the logical conclusion to draw, right?
This is a very western opinion. Many eastern and developing countries do not have this view of Russia.