Russia’s GDP per capita ($8748) is now below China’s ($8806), thanks to the crash in oil and gas prices. To put this in perspective, China pumps $60 worth of oil per citizen per year vs Russia’s $1600. To put this in perspective, just based on oil alone, Russia’s output per capita would be $1600 per person per year even if the non-oil economy just sat around playing chess vs China’s $60. As far as the well-being of the hoi polloi goes, Putin is making the Gulf state emirs/sultans look like enlightened rulers.
“” “” Russia’s GDP per capita ($8748) is now below China’s ($8806), thanks to the crash in oil and gas prices. “” “”
You fail to mention that the Russian output was twice that much just four years ago.
Some says it has plummeted due to energy market others say it is a result of an economic war waged by the West.
Both versions has facts behind them and you can’t blame Putin supporters for believing the latter.
It is clear that globalist are after Russia in full force. China doesn’t have such problem.