Russia’s Tragic Failure to Reform Its Economy
Russia’s invasion of Ukraine and resulting sanctions will likely devastate Russia’s economy. If the country had taken a more productive economic course over the past two decades, it might be looking toward a different future—one in which economic reforms had more tightly integrated Russia with the economically advanced countries, enhanced Russian influence and power, and built global trust. Instead, Russia has cast the West as its enemy, and its influence, power, trust, and reputation are shattered.