In addition, this crisis has sparked Russian anti-Western and isolationist rhetoric that makes Moscow’s road to recovery significantly more difficult. In particular, Russia lacks a diversified economy, a vibrant entrepreneurial class, the rule of law and a stable business environment that can support a fast economic turnaround. Yet a dramatic rebound in any of those economic arenas remains unlikely not just due to sanctions but also because of the entrenched structural weaknesses of Putin’s system. Under normal market conditions, for example, the recent collapse of the Russian ruble should have spurred exports, domestic manufacturing and foreign investment because a weaker currency makes Russian business more competitive both domestically and internationally. Though proven solutions exist for what now ails Russia, President Vladimir Putin’s geo-strategic and political choices have rendered these traditional economic approaches unworkable. Western sanctions have left Russia in dire financial circumstances - stuck somewhere between recession and stagnation. Careers, Fellowships, and Internships Open/Close.Wahba Institute for Strategic Competition.Science and Technology Innovation Program.Refugee and Forced Displacement Initiative.The Middle East and North Africa Workforce Development Initiative.Kissinger Institute on China and the United States.Nuclear Proliferation International History Project.North Korea International Documentation Project. ![]() Environmental Change and Security Program.Hyundai Motor-Korea Foundation Center for Korean History and Public Policy.
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