August 11, 2016
According to various reports, the Russian government is reconsidering the neoliberal policy that has served Russia so badly since the collapse of the Soviet Union. If Russia had adopted an intelligent economic policy, its economy would be far ahead of where it stands today. It would have avoided most of the capital flight to the West by relying on self-finance.
Washington took advantage of a demoralized Russian government, which looked to Washington for guidance in the post-Soviet era. Thinking that the rivalry between the two countries had ended with the Soviet collapse, Russians trusted American advice to modernize its economy with best-practice Western ideas. Instead, Washington abused this trust, and saddled Russia with an economic policy designed to carve up Russian economic assets and transfer ownership into foreign hands. By tricking Russia into accepting foreign capital and exposing the ruble…
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