> Also, Russia just surpassed Japan to become #4 in terms of GDP PPP (the number that matters), was recently reclassified as a high-income county and is expected to experience relatively high GDP growth,
You can get a lot of GDP growth if you focus your entire economy on making war materiel. It's not exactly durable growth and it doesn't really increase your citizens' quality of life.
Russia's industrial development outside of refurbishing Soviet stockpiles for war is extremely limited. Ditto for its civilian development: come on, 20% of citizens are still waiting for indoor plumbing.
GDP PPP is a useful number in comparing relatively-like economies, but here it breaks down completely.
You can get a lot of GDP growth if you focus your entire economy on making war materiel. It's not exactly durable growth and it doesn't really increase your citizens' quality of life.
Russia's industrial development outside of refurbishing Soviet stockpiles for war is extremely limited. Ditto for its civilian development: come on, 20% of citizens are still waiting for indoor plumbing.
GDP PPP is a useful number in comparing relatively-like economies, but here it breaks down completely.