China Will Ruin The Russian Oil Industry

China Will Ruin The Russian Oil Industry

China’s economy is slowing, and India  is growing. But Russia will not be able to use these changes in order to increase exports. On the contrary, the processes in key developing economies will result in problems rather than opportunities for Moscow. The worst hit will be the oil and gas sector – the report of the world Bank.

Russia’s ability to export its products and to penetrate new, dynamic markets are more than modest, stated on Thursday at a meeting of the club “Valdai” the authors of the world Bank report, “Rebalancing China’s economy and resumption of growth in India: what direction will swing the pendulum for Russia?”.

Over the past decade, the growth of foreign trade in Russia lagged behind countries with similar levels of economic development. The share of exports in Russia’s GDP is less than one third. Read More…

 

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