Mention the features of industrial development in russia
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Russia’s economic problems are part of global problems
The global crisis that has been going on since 2008 has resulted in growing instability on world markets. A global financial market has been formed that is capable of transferring huge sums of money almost instantaneously. Yet it lacks an adequate global regulatory system. Political considerations are playing a larger and larger role in economic policy, sometimes to the point of replacing market competition. Sanctions are merely a graphic illustration of this trend.
2. The Russian economy is affected not by the oil price and sanctions, but by structural problems
In 2015, oil prices halved in a matter of about six months, which is unprecedented in modern economic history. However, the main factor remains rooted in the structural problems of the Russian economy, primarily the exhaustion of the economic growth model of the 2000s. A substantial reduction in growth rates started long before oil prices declined and sanctions were imposed on Russia.
3. Russia has remained a market economy despite external threats
In late 2014, Russia was told that it was in for a disaster. And disaster could have happened had the government decided to fix the exchange rate, increase budget spending, freeze prices, etc. Instead, the authorities worked consistently to cushion the shocks. The results beat out most predictions.
The global crisis that has been going on since 2008 has resulted in growing instability on world markets. A global financial market has been formed that is capable of transferring huge sums of money almost instantaneously. Yet it lacks an adequate global regulatory system. Political considerations are playing a larger and larger role in economic policy, sometimes to the point of replacing market competition. Sanctions are merely a graphic illustration of this trend.
2. The Russian economy is affected not by the oil price and sanctions, but by structural problems
In 2015, oil prices halved in a matter of about six months, which is unprecedented in modern economic history. However, the main factor remains rooted in the structural problems of the Russian economy, primarily the exhaustion of the economic growth model of the 2000s. A substantial reduction in growth rates started long before oil prices declined and sanctions were imposed on Russia.
3. Russia has remained a market economy despite external threats
In late 2014, Russia was told that it was in for a disaster. And disaster could have happened had the government decided to fix the exchange rate, increase budget spending, freeze prices, etc. Instead, the authorities worked consistently to cushion the shocks. The results beat out most predictions.
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