Russia's Economy Thrives Despite Sanctions and SWIFT Removal
875 sats \ 50 comments \ @TomK 21 Apr econ
In defiance of sanctions and expulsion from SWIFT, Russia's economic resilience shines through, as indicated by the latest report from the International Monetary Fund (IMF). Projections suggest that Russia will emerge as the top performer among advanced economies in the upcoming year.
The IMF's forecast paints a picture of steady growth for Russia, with an expected expansion of 3.2% in 2024. This growth trajectory surpasses that of the United States, projected at 2.7%, and Germany, the former 'powerhouse' of Europe, forecasted to grow by a mere 0.2% (which won't happen in the private sector).
The repercussions of cutting off European access to Russian energy sources have been unexpected, with a surge in foreign investments pouring into Russia from all corners of the globe. This influx reflects the global community's eagerness to witness Russia's ascent to the ranks of advanced nations.
https://www.armstrongeconomics.com/world-news/world-trade/russia-set-to-outpace-all-advanced-economies-sanctions-failed/
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55 sats \ 18 replies \ @kingzing131 21 Apr
you don't need to read far to know this is a pretty biased article. China is simply not doing well, it's all banking on transitioning from the manufacturing sector. All you need to know is it has some of the riskiest balance sheet and the most degen of it all. Property market is the one that is the verge of breaking point.
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10 sats \ 2 replies \ @TomK OP 21 Apr
China can clear the markets with the gun at the head of its people...
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21 sats \ 1 reply \ @kingzing131 21 Apr
yeah, but you can't fix the economy that way
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0 sats \ 0 replies \ @TomK OP 21 Apr
That's true
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21 sats \ 14 replies \ @fm 22 Apr
pretty biased
The IMF believes Russia’s economy will grow by 3.2% in 2024
IMF.. We all know IMF its pretty biased, but usually against russia..
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11 sats \ 13 replies \ @TomK OP 22 Apr
The IMF is a shitshow within a shitshow
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45 sats \ 12 replies \ @fm 22 Apr
indeed.. the FIAT representatives on their best.. what socks me, is the fact that some people still think they do a good job on the world..
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0 sats \ 0 replies \ @TomK OP 22 Apr
Some people? Over here it's at least 95%
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21 sats \ 10 replies \ @TomK OP 22 Apr
deleted by author
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42 sats \ 9 replies \ @fm 22 Apr
hahaha, you got me..
Let me fix it to: MOST PEOPLE :)
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0 sats \ 8 replies \ @TomK OP 22 Apr
I have to qualify this a little in honor of the Europeans! I am still in my small village on the island of Crete and here about 90% of the people seem to be completely normal, here there is no wokism, no communism here the right to private property is defended and with weapons like a text. very impressive, that gives me hope for humanity!
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42 sats \ 7 replies \ @fm 22 Apr
I loved there..
As an annedocte, I remember going for cigarretes in a very small place and wondering how i would communicate since i dont speak greek,
The old lady behind the counter had like 85 years old, but replied in a perfect english.. i was amazed..
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36 sats \ 9 replies \ @nym 21 Apr
The growth is relative to their size. If you visit most places in Russia, I don’t think you would say it is thriving.
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27 sats \ 8 replies \ @TomK OP 21 Apr
And now do the Eurozone...
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57 sats \ 7 replies \ @inverselarp 21 Apr
Do you really want to compare EU to russia? Enough to say that (even pre war) there was literally no emigration to russia while opposite direction it was masses.
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56 sats \ 2 replies \ @tomlaies 21 Apr
I remember visiting Romania & Hungary in the mid 2000s. Clay walls, outhouse toilets, chickens walking through living rooms, stamped-dirt roads and lots of trash. It only gets worse the further east you go: Hungary, Romania, Moldova, Ukraine, Russia.
I think some people just simp for Russia because it's provocative. That's a dumb reason. Not saying everything in Russia is bad - they certainly have a beautiful culture with operas, literature, classical music and breathtaking landscapes. Their economy or suppression of freedom of speech aren't to envy tho.
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16 sats \ 1 reply \ @TomK OP 21 Apr
my point is to reveal relative developments. i know that there are still major economic differences between Russia and Europe, but they are gradually disappearing. it is dangerous not to take note of this
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54 sats \ 0 replies \ @inverselarp 21 Apr
If anything, russia is becoming chinese vasal state.
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16 sats \ 3 replies \ @TomK OP 21 Apr
Things are changing rapidly. Do You know the south of Europe?
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89 sats \ 2 replies \ @inverselarp 21 Apr
You mean those when rich russians that manage to escape sanctions go to vacations? I certainly have russian friends that are doing everything to get some of eu citizenships. I mean every russian would tale eu/us citizenship rn. Russia is a shithole and more with every day.
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16 sats \ 0 replies \ @TomK OP 21 Apr
Again. It's about relative change. And the Eurozone is in big trouble. and it's not just about the dysfunctional euro, the self-induced energy crisis, it's also a matter of legislation that is becoming increasingly totalitarian, introducing more and more bureaucracy, raising taxes ever higher and encroaching ever deeper into people's privacy. the EU is on a dangerous path.
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15 sats \ 0 replies \ @Bell_curve 21 Apr
EU is more shitty today vs 1995
If you expand membership to shithole countries guess what happens?
Another reason why EU should not accept Ukraine 🇺🇦
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34 sats \ 3 replies \ @tomlaies 21 Apr
The biggest benefactors from the trade war are certainly the countries that take advantage of middle men positions. Pakistan, India, China.
In the end, all restrictions of free trade harm everybody
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5 sats \ 0 replies \ @TomK OP 21 Apr
Yes
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21 sats \ 1 reply \ @Bell_curve 21 Apr
BRICS getting more powerful and influential and wealthy
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50 sats \ 0 replies \ @tomlaies 21 Apr
"Brics" doesn't exist. It's just China and an appendix. (The appendix being India and irrelevant countroes that hate each other). You're right that they're getting richer tho, just like all emerging markets economies.
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31 sats \ 7 replies \ @Satosora 21 Apr
Not to say that what Russia is right... but the USA did the same thing just a few years back. Russia adapted well to the sanctions, and is prospering. They also flushed out a lot of USA owned subsidies in Russia.
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10 sats \ 1 reply \ @TomK OP 21 Apr
that's the problem we always have with the whole russia debate. many people can no longer abstract and allow themselves to be drawn into the respective propaganda. i try to present things from an economic perspective so that readers can get a picture of the reality. The politicians involved tend to believe their own propaganda and thus drag their own population into the abyss economically.
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21 sats \ 0 replies \ @Satosora 21 Apr
The politicians need a majority to get things to happen though. So a lot of the politicians seem to have the same idea, or a way to profit from it.
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21 sats \ 4 replies \ @Bell_curve 21 Apr
BRICS can operate without G7
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10 sats \ 0 replies \ @TomK OP 21 Apr
Right
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10 sats \ 2 replies \ @kingzing131 21 Apr
I wonder to what extent. Bitcoin stuff aside, the world didn't just throw a dart and picked UST as the safest liquid asset.
USD continues to be the dominant money and we literally had dollar shortage globally last year or two.
With so much international global money money running on USD, I am honestly doubting any organisation can just force it's way through adopting another one.
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42 sats \ 1 reply \ @Bell_curve 21 Apr
Oil is priced in dollars but that can change to euro 💶 or CNY/RMB or something else
Brazil 🇧🇷 Russia 🇷🇺 and China 🇨🇳 are large producers of oil. Their oil advantage is main reason why western sanctions have failed
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16 sats \ 0 replies \ @TomK OP 21 Apr
Never going to change to Euro
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21 sats \ 0 replies \ @Winitober 21 Apr
The measure of all this “expansion” is debt based fiat currencies. Therefore, all measurement of expansion are suspect. No one can measure anything.
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21 sats \ 4 replies \ @Coinsreporter 21 Apr
Why won't it shine? After all Russia is selling everything for Ruble now. Russia isn't a small country that can shake with some stupid sanctions. The world requires Russia to fulfil the needs. If you sanction Russia, be ready, because you're automatically sanctioned back
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10 sats \ 3 replies \ @TomK OP 21 Apr
And they are already hitting back by expropiating foreign businesses
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21 sats \ 2 replies \ @Coinsreporter 21 Apr
Yes, and they can because their public is happy with it?
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10 sats \ 0 replies \ @TomK OP 21 Apr
I believe that many Russians, unlike people in Europe or North America, understand exactly who the Bulli is here when you look at London
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10 sats \ 0 replies \ @TomK OP 21 Apr
I believe that many Russians, unlike people in Europe or North America, understand exactly who the Bulli is here when you look at London
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21 sats \ 0 replies \ @IamSINGLE 21 Apr
Russsia Economy is getting boosters from the narrative of depolarization.
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0 sats \ 1 reply \ @jk_14 21 Apr
there is no such thing as: Russia's ascent to the ranks of advanced nations:
https://wpolityce-pl.translate.goog/swiat/672135-zagadka-grossmana-dlaczego-pisarz-oniemial-na-widok-trupow?_x_tr_sl=pl&_x_tr_tl=en&_x_tr_hl=pl&_x_tr_pto=wapp
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0 sats \ 0 replies \ @TomK OP 21 Apr
Mmmh. For a third world country they are holding up quite well against NATO
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