Fun fact, China has greater gdp per capita than Russia(nominal, Russia is still ahead in in ppp).
Russia gdp per capita for 2020 was $10,127
China gdp per capita for 2020 was $10,500
Their descend into mineral rich vassal state of china seems inevitable. I wonder how much effect the economic transformation/collapse in the 90s had. They lost the status, economy, respect/fear, rule of law. Military and resources is about the only thing left. And military doesn’t look too great.
Anyway, lesson for the future: don’t rely on “invisible hand” and optimism to transform economy. China did it correctly, Russia didn’t.
Russia gdp per capita for 2020 was $10,127 China gdp per capita for 2020 was $10,500
Their descend into mineral rich vassal state of china seems inevitable. I wonder how much effect the economic transformation/collapse in the 90s had. They lost the status, economy, respect/fear, rule of law. Military and resources is about the only thing left. And military doesn’t look too great.
Anyway, lesson for the future: don’t rely on “invisible hand” and optimism to transform economy. China did it correctly, Russia didn’t.