Paper 6: Russia-1400-1700--------Economic - Essay Example

Download file to see previous pages He ruled from 1689 to1725. Peter I was the leader who made Russsia to engage in international trade in Europe and also Asia. During the economic period of 1400 to 1700, the economy of Russsia witnessed massive changes in industrial revolution. There was the emergence of the use of machineries in industries which replaced the use of handmade tools in industries.As aresult, production of goods in industries was made possible with more goods being produced. The goods produced were sold outside the country and this stimulated trade with other countries in Europe. The use of steam power is yet another notable development that took place in Russia during the period between 1400 and 1700. Later on,other forms of power such as electricity were adopted and this replacedthe use of human labor in factories. The integration of Russia into the world’s economy was primarily enhanced by the trade with European giants such as the Great Britain. The government of Russia encouraged merchant organizations and this was demonstrated by the increasing number of government officials who invested in mercantile enterprises. On the question of how money could be earned and whether the economy depended on agriculture, oil or tourism,it is evident that the major economic activity in Russia is the export of petroleum. When it comes to agriculture, the climatic conditions in Russia are not suitable for crop farming (nation encyclopaedia.com, 2011). This is primarily because of rainfall inconsistency and also the vast amount of land which is arid. Russia is the fourth largest exporter of fish. Globally, the country is a major agricultural consumer. The main agricultural activity in the northern parts of Russia is livestock rearing, while in western Serbia and southern areas there is massive grain production. In Russia, agriculture is mainly carried out using primitive tools and therefore there is low productivity only enough to cater for the country’s population with very little to be exported. Inefficient management on issues of agriculture also contributes to low agricultural produce. Small private farms and household plots which comprises of only three percent of land under cultivation, contribute more than forty percent of food production in the country. Agriculture cannot be termed as the major source of income in the country’s economy as it is the case with oil. The export of petroleum products was the main source of income for a large number of citizens in the country. Russia is one of the largest producers and exporters of petroleum products. The country is richly endowned with the crucial resource of oil. The oil and gas industry of Russia gained prosperity because of increase in exports and escalating oil prices. Investors continued to dedicate more resources by setting up projects in other regions outside the country. In Russia, there was rapid growth of both inner and international tourism. The country was a popular destination for tourists due to a great cultural heritage such as the ancient cities’ golden ring (Jukov, 1848). A great variety of diverse Russian traditions plays a major role in attracting tourists to the country.Inspite of the great cultural heritage that attracted tourists to the country, the export of oil and other petroleum products remained to be the basis of the country’s economy. Reflection This economy affected Russia and the wider international society in a number of ways. To start with, ...Download file to see next pagesRead More