Latest Articles about Economics
Russia’s Arctic Strategy Melting Under the Scorch of Sanctions (Part One)
Two government documents—“On the development of the Arctic zone and ensuring national security until 2035” (Pravo.gov.ru, October 26, 2020) and “Energy Strategy 2035” (ES-2035) (Minenergo.gov.ru, accessed May 29, 2022)—outline Russia’s vision on its role, place and ambitions in the Arctic macro-region. Aside from other aspects,... MORE
Moscow Warns EU Against ‘Geopolitical Games’ in South Caucasus
On May 22, the leaders of Armenia and Azerbaijan, Prime Minister Nikol Pashinian and President Ilham Aliyev, respectively, met in Brussels for talks under mediation by Charles Michel, the president of the European Council. The event was a follow-up to their previous three European Union–mediated... MORE
Moscow Raises Two Territorial Issues After Helsinki Requests to Join NATO
The Russian government has a long tradition of raising territorial disputes against any neighboring country that seeks to join the North Atlantic Treaty Organization (NATO) because Moscow hopes that the existence of such purported disputes will slow down or even stop the process of these... MORE
Xi Jinping is Poised to Become “Leader for Life” in Exchange for Sharing Politburo Seats with Rivals
Introduction President Xi Jinping has presided over a dramatic enhancement of his own personality cult in the run-up to the 20th Party Congress this autumn. The latest sign of this hero worship is that national media have bestowed on Xi the title of lingxiu (领袖).... MORE
China and Sri Lanka’s Debt Crisis: Belt and Road Initiative Blowback
Introduction Sri Lanka is in the grip of an unprecedented crisis. For several months, the country has been reeling under a severe foreign exchange crisis. In early May, Foreign Minister Ali Sabry said that its usable forex reserves were just $50 million (Daily News, May... MORE
China’s “Dynamic Zero-COVID” Policy Weighs on a Weak Global Economy
Introduction The long lockdown in Shanghai may finally be nearing an end. Stores in parts of the city have been permitted to gradually reopen, and limited public transportation has resumed (Sh.news.cn, May 23; Xinhua, May 11) Nevertheless, for much of the city the lockdown drags... MORE
Mongolia’s Currency Crisis: Made in China?
Introduction When COVID-19 lockdowns closed the People’s Republic of China’s (PRC) borders in 2020, imports entering Mongolia came to a grinding halt, leading to domestic inflation and product shortages. Exports also declined significantly, further constricting the flow of U.S. dollars into the country. More than... MORE
Missiles and Escorts: Unblocking Ukraine’s Ports on the Black Sea
From the beginning of the 2022 Russo-Ukrainian war, the Russian Black Sea Fleet moved in to block or occupy all of Ukraine’s ports on the Black Sea and the Sea of Azov (see EDM, April 6). In the first days of the massive re-invasion, Russian warships attacked several... MORE
The Ailing Belarusian Economy and Lukashenka’s Plea on Big Brother’s Behalf
According to a January 2022 forecast published by the World Bank, the Belarusian economy would contract by 2.8 percent over the course of the year. But in April, the international financial institution sharply revised down its estimate to a drop of 6.5 percent. The April... MORE
Russia Downplays Negative Economic Impact of Ukraine War for Its Central Asian Allies
Russia’s large-scale re-invasion of Ukraine, which prompted the West to adopt ever-tightening economic sanctions against the aggressor, is forcing Central Asian countries to grapple with the negative fallout spilling over to their own economies. Disruptions to traditional logistical supply routes, a looming food crisis, currency... MORE