Russia, due to the decision of Russian President Vladimir Putin to start a full-scale war against Ukraine, is heading towards economic collapse. The war has already taken an economic toll, and sanctions and partial economic isolation have made it impossible to develop the economy.
According to ASPI, Russia depends on China for its trade. The budget has reached a historical deficit, the Russian Federation has lost sales markets, the ability to attract capital. Henry Campbell, coordinator of the North Australian Strategic Policy Center at ASPI, believes that Ukraine has a chance to win not only the war, but also an economic victory in the subsequent period.
Before a full-scale war, Russia’s military power was one of the instruments of influence on the world community. However, now it turned out that Russian military power was significantly overestimated. Neighbors of the Russian Federation are adapting to new realities.
“Throughout all these conflicts, Russian military strategy has consistently resulted in high civilian casualties and earned Putin a reputation for ruthless efficiency. This, combined with sustained high military spending during this period and a desire to modernize its nuclear arsenal, has allowed Russia to project force domestically. and abroad with the help of their armed forces. However, this model has completely failed.
Bypassing sanctions over trade with China, India, Turkey and several Central Asian countries has cushioned the effects of the economic downturn and protected Russian metropolitan areas, but it is not a permanent solution. Since the invasion, Russia’s energy revenues and market positions have fallen, and its trade has become increasingly dependent on China.
As GLOBAL HAPPENINGS wrote earlier, Russia was on the verge of an economic collapse. In addition to other problems, the aggressor is faced with a shortage of workers.
Source: Obozrevatel
I am a journalist who writes about economics and business. I have worked in the news industry for over 5 years, most recently as an author at Global Happenings. My work has focused on covering the economy news, and I have written extensively on topics such as unemployment rates, housing prices, and the financial crisis. I am also an avid reader and have been known to write about books that interest me.
