Russia is not Sustainable
What makes it so clear that Russia isn’t sustainable? The Wall Street Journal reports a truly stunning fact: ”After years of rapid economic growth, Russia was hit hard by the crisis. Last year, its economy shrank by 7.9%. That put its economic performance in 206th place out of 213 countries, according to the Central Intelligence Agency.”
That’s right: Last year, only seven countries on the entire planet performed worse than the one presided over by proud KGB spy Vladimir Putin.
So now, a desperate Russia is attempting to make common cause with the European Union. Good luck with that, Russians.
The Journal reports: ”The EU won’t cozy up to an autocratic power with rampant government corruption, an arbitrary legal system, and scant regard for human rights. Moreover, the suspicion will remain among many in the EU that as soon as oil prices go back up, Russia will start throwing its weight around again.”
Or as Jim O’Neill, the recently named chairman of Goldman Sachs Asset Management, puts it: ”Everybody hates the damn place. So it takes a lot of bad news for Russia to disappoint.” Reuters says Russia has “near pariah status” among foreign investors.
In other words, Russia has arrogantly burned its bridges in Western Europe whilst terrifying and outraging Eastern Europe, which it seems to have forgotten is part of the EU now. When oil prices were soaring, Russians acted as if they had built a powerful new society and pulled back from the brink of neo-Soviet failure, yet they had in fact done no such thing.
Vladimir Putin’s neo-Soviet state is a total failure, an embarrassment to the world community. It is not sustainable.