Latest Articles about Economics

Third Quarter Arms Production Undermines the Kremlin’s Narrative
In September, Moscow announced its plans to dramatically increase defense spending by the end of the year, with some estimating a 70-percent increase for that budget (see EDM, October 5). Russia’s national defense budget has reportedly been growing quickly ever since, but this has not... MORE

Bulgaria Strikes Back After Gazprom Suspended Gas Supplies Last Year
Bulgaria has finally taken decisive measures to cease its dependence on Russian energy and undercut Moscow’s positions in the Balkan and Central European energy markets. On September 28, the Bulgarian National Assembly voted to introduce a new excise tax on the import and transit of... MORE

China Expands Its Political Influence in Russia East of the Urals
Beijing is increasing its political influence in Siberia and the Russian Far East to better support its expanding economic activities. These efforts are directed at the political and business elites who are the major stakeholders in deciding which firms can operate in their respective regions... MORE

The Rise of Prison Labor in the Russian Economy
Moscow’s war against Ukraine has resulted in serious military and economic losses for the Russian Federation. The Kremlin has tried to mitigate the effect of stringent Western sanctions through a combination of non-compliance with the oil price ceiling, evading sanctions via third parties, and high... MORE

Hong Kong: The Keystone in China’s Economic Statecraft
The recent decision by Hong Kong to join China in banning Japanese seafood took many observers by surprise (Reuters, August 23). At first glance, the ban seemed an overblown reaction to Japan's handling of nuclear wastewater, which many international bodies have deemed safe and compliant... MORE

Chinese National Security Laws Hinder Foreign Companies’ Operations in China
Investigations into alleged misconduct and criminality by companies are to be expected, and welcomed, in any country. However, the problems facing foreign companies in the People’s Republic of China (PRC) depart from normal legal checks and balances. The lack of separation between the judiciary and... MORE

US Summit Reflects Decline in Russia’s Position in Central Asia
Numerous accounts of Russia’s position and influence in Central Asia have commented on Moscow’s declining standing there. Those results are visible in the clear unhappiness of Central Asian governments with the war in Ukraine, what they perceive as Russia’s failure to take their interests seriously.... MORE

China’s Anti-Corruption Efforts Gain Momentum in Finance and Healthcare
Editor’s note: Tables at the end of the PDF version of this article detail a selection of the officials who have been investigated as part of probes into the health and financial sectors this year. On September 27, Chinese President Xi Jinping presided over a... MORE

Security Implications of China’s Auto Dominance
At the end of September, the 2023 China International Automobile Exhibition opened in Tianjin. An official representing the China Council for the Promotion of International Trade (CCPIT) delivered a speech, announcing that China's automobile exports are expected to exceed four million units this year (Kuai... MORE

Russia Struggles to Manage Defense and Security Budgets
At the end of September 2023, a draft of the Russian federal budget for 2024 and the 2025–26 planning period was introduced to the State Duma. Fiscal revenues for 2024 are planned to be 35.07 trillion rubles ($418.5 billion, according to the average exchange rate... MORE