The Big Bear is roaring in the first decade of the 21st century. Sixteen years after the collapse of the Soviet Union, Russia is once again making a play for Great Power status. In addition to its massive stockpile of nuclear arms, the country has resources that may give it even more leverage in the post-Cold War world — one of the world’s biggest reserves of oil and its biggest reserve of natural gas, as well as abundant supplies of aluminum, titanium and timber.
The key to Russia’s future will be transforming this commodities wealth into the kind of high-tech development that the world’s strongest economies need. Knowledge@Wharton looks at the strengths and weaknesses of Russian industry, including its dependence on oil revenues, and analyzes the consumer goods and real estate sectors as well as the impact of the country’s demographics on its economic health.
Continue reading “Russia’s Abundant Oil and Gas”