Latest Articles about Economics

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

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

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

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

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

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

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

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

South Korea Grounds Its Position in the Central and East European Defense Market (Part Two)
*Read Part One here. The recently established military relationship between South Korea and Poland is a multidimensional phenomenon, reaching beyond security in its traditional meaning. In fact, large-scale arms contracts are almost always politicized and followed or accompanied by intensified economic ties. Certainly, in the... MORE

Russo-Indian Economic Ties During Wartime: Oil, Currency and the Arctic
Following the launch Russia’s all-out war of aggression against Ukraine and growing international economic-political isolation, the Kremlin’s contacts with major regional and international powers have shrunk to three primary players: China, India and Turkey. Specifically, current and prospective ties are being cultivated between Moscow and... MORE