Quote:
Originally Posted by BOIDS
russia has a smaller gdp than canada
they cant make anything other than weapons, all they know how to do is export raw materials. the average wage is $600/month, and the ruble is so heavily dependent on external factors such as the price of oil that it might be $300/month tomorrow. russia is a busto basket base and is only significant in geopolitics due to their large investment in military and espionage
sort of a rich man's north korea full of hopeless alcoholics with no job skills
Yes, its economy is about 1/2 of California. The thing is, good Russian leadership could have improved education, strengthened the rule of law, actually passed good laws, attracted tons of foreign investment, etc.
Instead, Putin decided he needed to personally manage the economy and all the political subdivisions (including the power to appoint formerly elected governors), and all the foreign investors got burned and scammed with no recourse, often by the state itself.
The guy behind the Magnitsky act was once the largest foreign investor in Russia and they took his company and killed his top lawyer. That basically kills an economy. Put the guy who made Singapore in charge of Russia 20 years ago and it's GDP would be double what it is now.