When Vladimir Putin became President, Russia was effectively bankrupt as it owed more money to the International Monetary Fund (IMF) than it had in foreign currency reserves. Since then, Russia has achieved a virtual macroeconomic revolution to the point where it is one of the largest creditors of U.S. debt in the world. Its nominal dollar GDP has increased by more than a factor of six, and has the potential to reach more than $2 trillion by 2010. Russia would become the largest economy in Europe and the fifth largest in the world following the United States, China, Japan, and India by 2020 if goals would have been achieved.......
What`s the point of this thread? Saying what a great president Vladimir Putin is?
Russia has lots of resources and if there was no communism,Russia would be one of the wealthiest countires
in the world.
Yes, lots of resources, but the country is so poorly managed that it can only sell them raw. It's manufacturing which makes a country rich. Just look at China, South Korea or Taiwan. Is there a single Russian product which can compete with those of other countries? Somehow, Russia is like Saudi Arabia. As long as there's oil or gas to sell, the country's going fine, but when there'll be no more, it will sink.