
What Would Happen if China's Economy Collapses?
Economics Explained
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Anka Explains the Impact of the Soviet Union
By 1991, the Soviet Union was either the third or fourth largest economy in the world behind the USA, Japan and potentially West Germany. Record-keeping in the Union was so corrupted and unreliable that institutions like the IMF and World Bank could only be confident of its output within a range of around half a trillion dollars at the time. Despite this, global GDP actually went up following its collapse. The impact of the Soviet system falling apart basically overnight through the member nations of the Union into almost total anarchy.
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