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Jacob Shapiro on Russia, Ukraine, and China
Forward Guidance
Is the Russian Economy a War Economy?
Russia is largely a commodities based economy. To the extent they have global economic importance, it's not because of their burgeoning tech sector or anything like that. They export some commodities that everybody else needs. The problem with all this is that natural gas, which was one of their big sort of money makers. Putin really kind of missed the, I guess he couldn't have known if you would looked at the trend of European weather over 20, 30 years,. You would have known that a colder than expected winter was not on the cards.
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