Latest Articles about Economics
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Russia to Cut Oil Output in March 2023, Suggesting Retaliation for Western Sanctions
On February 10, Russian Deputy Prime Minister Alexander Novak announced that Russia plans to cut its crude oil production by 500,000 barrels per day in March—that is, by approximately 5 percent of its total output at the time of writing. The Kremlin has described the... MORE
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Eschewing the West’s ‘Double Standards,’ Georgia Favors Restoring Direct Flights With Russia
On February 3, the United States Department of State warned the Georgian government that the resumption of direct flights between Georgia and Russia would lead to the implementation of economic sanctions against the country and those Georgian companies involved in the flights. As the official... MORE
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Scrapping of Northern Railway Undermines Russian Economy and Putin’s Arctic Ambitions
Moscow’s ability to develop its own resource-based economy, expand the Northern Sea Route, cement ties with China and support Vladimir Putin’s ambitions to project power into the Arctic depends on the development of land-based infrastructure in the northern regions of the Russian Federation (see EDM,... MORE
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Russia’s Arctic Crude Exports to China and India Increase
On December 5, 2022, the G7, European Union, Canada, Japan and Australia began implementing a $60 price cap on Russia’s seaborne crude oil exports (see EDM, December 5, 2022), which China and India quickly capitalized on. Additional ceilings on petroleum products are expected later this... MORE
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Biden Administration Signals Limits to Its Support for Ukraine’s Just War
The Munich Security Conference, running from February 17 to 19, and the upcoming one-year anniversary of Russia’s full-scale invasion of Ukraine, launched on February 24, 2022, are high water marks of support from the United States and Europe to Ukraine. These two events are made-to-order... MORE
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Iran’s Purchase of Russian Fighter Jets Underlines Shifting Regional Geopolitics
The news of Iran’s planned purchase of Russian Sukhoi Su-35 advanced fighter jets is the latest sign of deepening relations between Tehran and Moscow. This development is significant, as in recent years, similar contracts were canceled for the sale of Russian Su-35s to Algeria, Egypt... MORE
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Full Circle: As Spy Balloon Fallout Mounts, Xi Reverts to Old Policy Playbook
While President Xi Jinping has often been criticized by Western politicians, as well as intellectuals inside and outside of China, for restoring quasi-Maoist values, he has at least been consistent in his conservative agenda. On foreign policy, he has never strayed from the Chinese Communist... MORE
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The Russian Far East Is Becoming a Raw Material Colony for Beijing
On December 21, 2022, Russian President Vladimir Putin took part, via videoconference, in the commissioning ceremony for the Kovykta gas field, the largest in Eastern Siberia (Kremlin.ru, December 21, 2022). The field’s recoverable reserves are estimated at 1.8 trillion cubic meters of natural gas, but... MORE
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China’s New Historic “Leap” Narrative: Coverup for the Zero-COVID Policy Failure?
Introduction With Chinese authorities having shifted away from a zero-COVID policy at the end of November, the country now faces an unresolved dilemma as to its future approach to economic development and public health policies. A critical question is: will the Dengist doctrine of "Reform... MORE
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Xi’s Anti-Corruption Campaign: Yunnan Province in Focus
Introduction At the 20th National Congress of the Chinese Communist Party (CCP) last October, General Secretary Xi Jinping lauded the achievements of his anti-corruption campaign, reminding the audience that a total of 207,000 “top leaders” (一把手) at all levels had been investigated by the discipline... MORE