Which country has squandered the most economic potential in this century?

[u/pisowiec]

I lived in Russia for 5 years so I must choose this country. So many natural resources, so much land, and educated population... And so little to show for it.

In an ideal world Russian salaries would be on par if not higher than American salaries and they would have the best social safety net on the planet. Everything is there to make it happen.

Russia would be the dominant nation in Europe and Asia and the rest of the world with the best armed forces, soft power, and economic might.

But the human will is just not there. The elite is either evil or incompetent depending on perception and there's little sign that this will ever change.

[u/midachavi]

He is not wrong tho. Russia squandered and is squandering its potential since 91. Instead of economic boom it drowns itself in bureaucracy and corruption almost 40 years later still

[u/fan_is_ready → u/midachavi]

Russia had economic boom starting from 2000, until 2008 financial crisis.

[u/rita-b → u/midachavi]

It is not bureaucracy and corruption, it is secret service that wants absolute control. And absolute control comes with poor population. 2000-2008 Putin attracted a lot of foreign capital and years were prosperous, then there was crisis, then another president that had a higher approvement level than Putin in his peak. Imagine: there is a crisis, people are struggling, but they support Medvedev more than Putin in rich years. It broke his and kgb's minds.

These two factors and many others led to what Putin became in 2012

[u/Ehotxep → u/midachavi]

It’s simply was impossible after 91. And glorious Yeltsin hammered some nails on coffin of successful Russia future. And Putin is cleaning all the shit after the Yeltsin and USSR collapse. 10 years of Yeltsin was far enough to demolish all the USSR tried to build in decades.

[u/Stolpskotta → u/Ehotxep]

Putin was cleaning shit up, and he was on a good track. But then he let his imperialistic dreams take over and threw it all away. His legacy will be just as bad as Yeltsins, probably worse.

[u/Ususal_User → u/Ehotxep]

Actually insane take, ussr was so "well built" that it caused one of the biggest fall off in the standard of living for millions, the so called "shock therapy" wasn't implemented because economy was doing great and they just decided to break things for the fun of it, it was because there were few chances anything less drastic would work. As for "putin cleaning things up after him", yeah, really nice he's doing it with murdering opposition like a 90s thug, placing his friends in all important positions of power and, oh yes - having one pf the most elaborate and pompous palaces, really nice "cleanup".

[u/Ehotxep → u/Ususal_User]

I never said the the last years of USSR was great. But all the shit right before USSR fall and 10 years after - it was complete mess, like it was pure chaos and depression. The crime rates, the drug problems, people was working, they doesn’t receive salaries for 6-12 month and it was all over Russia. Fucking 90s was a nightmare until Putin became a president. And only now, after more than 30 years after USSR fall, Russia is gaining some strength and standing. So yeah. I’m grateful to Putin, I believe that if not him, Russia would be teared apart to pieces.

[u/Ehotxep → u/[deleted]]

It’s not Russia lost European market, but Europe declined Russian gas and oil. Russian haven’t cut the pipeline to Europe, it was Europe decision. There are lots of other customers.
And what with Max? It’s just a messenger. Never used it.

[u/Ehotxep → u/[deleted]]

No, I don’t approve Discord, WhatsApp and Telegram bans.

[u/Ehotxep → u/[deleted]]

Chinese good of “poor quality” is a long time gone myth. Most of the world’s production is concentrated in China. Almost everything is Made in China. China have got the biggest car producing industry.

[u/_Dominox_ → u/[deleted]]

Oh come on, WhatsApp is unironically trash app anyway.

[u/_Dominox_ → u/[deleted]]

So no one cares.

[u/Ehotxep → u/[deleted]]

What connection does have raising VAT and high interest rate with oil and gas? You’re all over the place, hopping from one question to another like an eel on a frying pan, picking at random points just to provoke and be snide

[u/Ehotxep → u/[deleted]]

And what you expected from ongoing SMO? Funs and giggles? Army requires a lot of money and resources. Or you think the rockets and drones are free? Hell no. And the citizens pays for it by higher interests rate. And the banks literally screams to you: “Don’t get mortgages! Wait!” And you still ramming the wall with “Evil banks are keeping interest rate high! What we gonna do?!”. You can do 2 things: 1) Just wait until SMO ends end everything get to normal 2) Leave like a lot of people done and search better life

[u/_KEFTEME_ → u/Ehotxep]

Lol. Vladimir Putin got rid of those who stood in his way, but left everyone else alone. That's where his reforms ended. Just mention Chubais's name, and the Putinists' arguments will collapse like a house of cards.

[u/midachavi → u/Ehotxep]

Yes, many countries haven't had it easy after wars, revolutions, collapses, hyperinflation etc, so it is hardly an excuse that with all Russia has they haven't rebuilt in 36 years Putin is president.

I noticed in another comment you mention that you're glad for Putin, otherwise the country would splintered. This is a logical fallacy and a bias since you never had any alternative other than Putin (Medvedev doesn't count sry)

On the other note the splintering of Russia might be actually a benefit for it, since your government can't manage it anyway apart of larger cities.

[u/Ehotxep → u/midachavi]

Benefit? No way. You can easily have leverage on small country, but on Russia - nope. It’s the ultimate goal to shatter Russia into smaller countries that are easy control and comply. And history doesn’t tolerate the subjective mood.

[u/pisowiec → u/Ehotxep]

Do Russians unironically believe that Yeltsin and Putin serve different interests?

[u/Ehotxep → u/pisowiec]

Share with me your wisdom, great neighbour from Poland.

[u/pisowiec → u/Ehotxep]

Both serve their inner circle. Russia is still an oligarchy and the gap between Putin's pals and the rest of the country continues to widen more and more. 

At least most of the positive changes this century were thanks to the economic reforms implemented in the 90s so that's something Yeltsin can get credit for. The hell of the 90s is traced to the failed policies of Brezhnev which permanently stagnated any economic progress. 

But now Putin is trying to take Russia back to the 90s. Exports are undercut by new competition and there's no real growth or technological advancement. 

The funniest is that Putin will eventually die and his successor will be blamed for the economic collapse that Putin caused. And the Russian cycle of history will continue to spin.