Russia is a third world country:
Russian export in 2013 was $526.4 billion
Top ten breakdown:
Mineral fuels including oil: $304,559,452,000 (57.9% of total exports)
Iron and steel: $20,050,729,000 (3.8%)
Pearls, gems, precious metals and coins: $14,367,047,000 (2.7%)
Fertilizers: $9,119,157,000 (1.7%)
Machinery: $8,815,393,000 (1.7%)
Wood: $7,324,251,000 (1.4%)
Aluminum: $7,181,742,000 (1.4%)
Inorganic chemicals: $5,009,209,000 (1%)
Copper: $4,962,945,000 (0.9%)
Electronic equipment: $4,914,638,000 (0.9%)
http://www.worldstopexports.com/russias-top-10-exports/2350
This is a typical third world export mix heavily dependent on raw materials.
Compare this to South Korea with a total export of $559.6 billion in 2013 (i.e. larger than Russia)
Top ten breakdown:
Electronic equipment: $135,502,617,000 (24.2% of total exports)
Vehicles excluding trains and streetcars: $72,783,929,000 (13%)
Machinery: $59,327,144,000 (10.6%)
Mineral fuels including oil: $54,093,985,000 (9.7%)
Optical, technical and medical apparatus: $35,946,520,000 (6.4%)
Ships, boats and other floating structures: $35,845,842,000 (6.4%)
Plastics: $31,179,306,000 (5.6%)
Organic chemicals: $24,855,250,000 (4.4%)
Iron and steel: $22,275,412,000 (4%)
Iron or steel products: $11,181,093,000 (2%)
http://www.worldstopexports.com/south-koreas-top-10-exports/2302
figures from 2012 : http://www.freerepublic.com/focus/news/3137205/posts?page=67#67
What will happen when the price of oil shrinks to, say, 80?
Are you a neo-mercantilist or what? Don’t you think there is an economy beyond exports exist? Considering a trade deficit with China, how would you rate US economy following your beliefs?