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This is not done as desired. This is a long complicated process. Especially when there is a corruption component.
To add, exports from Russia is really difficult, as the English proficiency among the Russian businessmen is still very low. If you can't speak languages, you have a low chance of succeeding.
The Russian economy had no incentive to diverse as importing was cheaper than investing into different economic sectors. Of course this is where the government should have come in and create incentives, with the economic security of the state in mind when doing so. Instead, either no attempt was made, or corruption was so bad that just pennies on the dollar made it to the intended sources.
Other countries have equal or near equal dependence on resources for their economic engine, for example Norway, or countries like Canada that have a large but not majority proportion based off of resources, so it is not the fact of being resource dependent, it is what is being done with the money and the institutions in place.
Other countries have equal or near equal dependence on resources for their economic engine, for example Norway, or countries like Canada that have a large but not majority proportion based off of resources, so it is not the fact of being resource dependent, it is what is being done with the money and the institutions in place.
The only thing that is different is that Norway invests their oil money into the future and encourages a highly educated populace to expand the variety of exports. They know this won't last forever. Russia just lives by the day. Mañana is a very Russian way to do things.
No doubt like all countries except for some reason there it is difficult to get as noted 'diversity'
in their economic output. Not sure if it's lack of will or laziness. If we look at China they have the moniker of being that 'copy-cat' country of things Western. Waiting for Russia to follow and take the lead on that in the 21st. From the looks of it the country has no choice.
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