Wednesday, June 30, 2021

TASS — Russian economy has adapted to sanctions, Putin says

"We have not merely adapted; our economy has adapted to this sanction pressure and it has even benefited us in certain aspects," the head of state said. "These so-called replacement programs, import substitution, imported equipment and technologies replacement by indigenous ones created a good impetus in developing high-technology production spheres," Putin said.
Increased self-sufficiency.

Globally, the trend toward national self-sufficiency is undermining key principles of liberal globalization that was leading to corporate totalitarianism under a US-dominated "rules-based economic order."

The result has been that the West has begun to lose industrial, technical and agricultural dominance as Russia and China have adapted to the new "rules" that supposedly guarantee Western economic dominance.

Moreover, the economic cost of sanctions and trade contraction have affected all sides, adversely impacting the global economy and advancing the push toward multipolarism.

Russian economy has adapted to sanctions, Putin says

1 comment:

Peter Pan said...

Same rules, minus violation of national sovereignty and militarism.

If China and Russia were to specialize in the above activities, then maybe they could compete with the US.