Latest Articles about Economics

Deepening Leadership Confusion Exacerbates Russia’s Multiple Crises
The scale of the complex disaster in Russia caused by the escalating COVID-19 pandemic becomes clearer with the incessant stream of bad news coming out of the country, even if official propaganda is strictly economical with the truth. Reports about a new test of the... MORE

Is Crimea Now Costing Russia More Than It Is Worth?
In the euphoria that surrounded Vladimir Putin’s annexation of Ukraine’s Crimea six years ago, most Russians were more than willing to spend money to integrate that region into the Russian Federation. But at that time, they had little idea just how much that process would... MORE

Abkhazia Bolsters Linkages With Russia
On November 24, the Georgian Ministry of Foreign Affairs strictly condemned Sukhumi and Moscow’s joint approval of a program to create a common socio-economic space uniting breakaway Abkhazia and Russia. Tbilisi slammed it as “another illegal step toward the de facto annexation” of its occupied... MORE

Dual Circulation’s Implementation Necessitates A Crackdown on Fintech
Introduction Rumors swirled about a crackdown on the Chinese e-commerce giant Alibaba following an incendiary speech given by its founder Jack Ma in late October, which criticized global banking standards and the Chinese regulatory system (TechNode, November 9). The suspension on November 3 of the... MORE

Turkmenistan, Now With Soviet-Style Deficits, on Brink of Explosion
Turkmenistan, far and away the most closed country in the former Soviet space, seldom receives much attention except as the butt of dismissive jokes or, more recently, when its leaders tried to deny that COVID-19 is present in their country even as they took measures... MORE

COVID-19 and Russia’s Looming Debt Cliff
COVID-19’s “second wave” is pushing back economic recovery all over the globe, giving rise to predictions of massive recorded drops in GDP this year followed by a robust recovery in 2021 and decent growth rates after that. Official economic forecasts in Russia notably mirror those... MORE

Russia Pursues ‘Region-Oriented’ Approach in Arctic Development
On October 26, President Vladimir Putin formally adopted the “Strategy for the Development of the Russian Arctic Zone and Provision of National Security Through 2035,” which aims to implement a “region-specific approach” for dealing with problems facing the country’s vast, strategically important, yet increasingly problematic... MORE

Moscow Moves to Tighten Grip Over North Caucasus Republics
The economic crisis in the Russian Federation has resulted in the central government further tightening its control over the republics of the North Caucasus. Ingushetia now faces a loss of its financial autonomy. Similarly, the property rights for a key tourist enterprise in Kabardino-Balkaria have... MORE

Mongolia’s Economic Recovery from COVID-19 Dependent on China
Introduction Mongolia responded quickly to the initial outbreak of COVID-19 in China this past January. The country issued its first public health warning about the new virus and asked citizens to wear masks on January 10; shut down schools throughout the country by January 24;... MORE

Russia Unveils New Arctic Development Strategy: Focal Points and Key Priorities
On October 26, President Vladimir Putin formally adopted the “Strategy for the Development of the Russian Arctic Zone and Provision of National Security Through 2035” (Pravo.gov.ru, October 26). The document is to be implemented in three stages: 2020–2024, 2025–2030 and 2031–2035. In a related comment,... MORE