DISINFO: The US has a plan to limit Russia’s economy to the export of raw materials
The US has a plan to limit Russia’s economy to the export of raw materials.
Conspiracy theory. No evidence is provided to support the article’s claim, which is used in the context of arguing for a closer relationship between Russia and China. The article amplifies claims made here. Recurring pro-Kremlin disinformation narrative about Western belligerence towards Russia and Western plans to destabilise Russia and/or undermine its economy. Russia’s economy remains heavily reliant on exports of oil and gas, which account for 57% of total exports and about 45% of federal government revenues. A paper published back in 2004 showed how the “Dutch Disease” ( the impact of increased revenues from natural resources – in Russia's case oil and gas – on the real foreign exchange rate resulting in a decline in manufactured goods exports) affected the Russian economy since the start of the transition in the early 1990s. In the last decade, the situation has not improved as clearly shown by recent data. The Russian economy remains dominated by oil, gas and mining. The lack of diversification of the Russian economy is not the result of a US or Western conspiracy but is due to the Russian élite’s failure to undertake necessary economic reforms. Serious economic reform in Russia is hindered by an autocracy that is able to enjoy the benefits of monopoly and does not allow for more control over special-interest groups, including rich and powerful Russian oligarchs. Increased dependency on energy exports has worsened governance in many post-Communist states, according to some scholarly studies published by the World Bank. Read a similar case claiming that the US, in order to prevent close Europe-Russia economic cooperation, has created and spread a false image about an “aggressive” Russia that constitutes a security “threat”.