There’s a striking article in “The Wall Street Journal” by Greg Ip entitled “In an Economic Cold War, Russia Loses.” (dated February 10, 2022).
Mr. Ip explains, “Russia’s annexation of Crimea in 2014 was an inflection point for globalization.”
For a while investment and know-how expanded in Russia after the end of the first Cold War.
However, “Western investment…collapsed after Russia’s annexation of Crimea in 2014.”
Ruben Enikolopov, a Russian economist, states that a second Cold War might mean an “exodus of talents” and a “time for Russia “…to fall further behind as the rest of the world grows.”
Previously, Mr. Ip summed up the situation in Russia, “Mr. Putin signaled that henceforth he and his inner circle, not entrepreneurs, would control the fruits of economic progress.”
What all this means is that “President” Putin limits, rather than enhances the future for the Russian people as he diverts their attention in Ukraine. The ultimate consequence is BAD ECONOMIC NEWS FOR THE RUSSIAN PEOPLE!
