this post was submitted on 15 Nov 2024
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No? Despite Imperial core sanctioning efforts, Russia is doing fairly well. You wouldn’t know it from Western government propaganda or Western corporate media, though.
https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD?locations=RU&start=2019&end=2023
The RF's central bankers keep trying to tank their economy but it isn't working because of all the direct investment required to offset sanctions. They are maxing out debt costs, basically, trying the neoliberal "fighting inflation" strategy that does the exact opposite most of the time. It makes them precarious economically despite how well they're doing but for a very different reason than "sanctions are working". If they kicked out their neoliberals it would be smooth sailing.
US sanction power is not like it was in the 1990s. I think most people don't realize that.
Nice data, but I think we should take a broader view too:
https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?end=2023&locations=RU-IN&start=2019
I semi randomly picked India because it is part of BRICS and had a similar economic trajectory: It is quite interesting playing with all those nobs and labels.
In this context I think PPP - which you showed - is a good indicator of the internal quality of living, but as far as I understand it, it has an hard time showing the difference in quality and standards of the consumer products between countries, so a dip in nominal GDP is an interesting context with the PPP adjusted rise. Less expensive things, because they are less regulated?
Aside from that Russia has almost completely pivoted to a war economy which, as far as I know, tends to give a big initial boost but it stresses and makes the real (for lack of a better term) economy crash in the long run.
What do you think about this? It is an interesting topic.