I think their aspirations are akin to Scandinavia from what I’ve seen, I struggle to see how they could pursue the Chinese model which is still rooted in Marxist principles. Again, if someone knows better please educate me this is not something I am wised up on <3
The reality is that Russia is already reverting back from liberal policies and putting the state in commanding heights of the economy.
A 2023 World Bank study gives a pretty good overview. In particular, it distinguishes between businesses of the state (BOS), that are at least 10% government owned by some government, and state owned enterprises (SOE), which are majority owned or more, and controlled, by the government.
OMG! This is actually wonderful news! Thank you so much for taking the time to make such a digestible response!!! But I am curious, what of the oligarchs? Do you know of any articles which explain how this shift towards state ownership has affected them in any way?
The oligarchs are there, but the state is an entity of its own in Russia. I don’t have any specific articles handy, but this was a decent overview of the current situation https://www.youtube.com/watch?v=Pm7_6LCkvQE
I think their aspirations are akin to Scandinavia from what I’ve seen, I struggle to see how they could pursue the Chinese model which is still rooted in Marxist principles. Again, if someone knows better please educate me this is not something I am wised up on <3
The reality is that Russia is already reverting back from liberal policies and putting the state in commanding heights of the economy.
A 2023 World Bank study gives a pretty good overview. In particular, it distinguishes between businesses of the state (BOS), that are at least 10% government owned by some government, and state owned enterprises (SOE), which are majority owned or more, and controlled, by the government.
Top line result is shown in the following chart:
And here’s another chart showing SOE in Russia compared with China https://cepr.org/voxeu/columns/state-owned-enterprises-global-economy-reason-concern
Russia’s high levels of SOEs is not far behind China by many measures.
Central bank plays a big role in Russia as well, and has large influence over the funding of the private enterprise. FT even moaned about state directed economy standing up to sanctions back in 2022.
Finally, here’s an article talking deprivatization of Russian economy.
OMG! This is actually wonderful news! Thank you so much for taking the time to make such a digestible response!!! But I am curious, what of the oligarchs? Do you know of any articles which explain how this shift towards state ownership has affected them in any way?
The oligarchs are there, but the state is an entity of its own in Russia. I don’t have any specific articles handy, but this was a decent overview of the current situation https://www.youtube.com/watch?v=Pm7_6LCkvQE
I found a YouTube link in your comment. Here are links to the same video on alternative frontends that protect your privacy: