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Russia in a Globalizing World - Essay Example

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The essay "Russia in a Globalizing World" evaluates the way Russia has become more dependent on other countries through the process of globalization suggesting that this has mostly been for the best. The world is changing like never before. Globalization is affecting every aspect of peoples’ lives around the world…
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Russia in a Globalizing World
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Download file to see previous pages Indeed, Russia so far has benefited enormously from this period of economic expansion. But likewise, as economies become more intertwined, we find that they can also become more vulnerable to unexpected shifts and new forms of opaqueness. This isn’t a reason to turn away from globalization, but it is a reason to be vigilant.
Although the exact moment of globalization occurring in Russia is a debatable question considering the length of Russia’s history and its extensive involvement in world affairs, it could send that most of the post-Soviet period has been marked by the rapid acceleration of Russia’s integration into the world economy. Boris Yeltsin, Russia’s first post-Soviet leader, led the country through a kind of economic shock therapy that involved deregulating markets, selling off state assets and making Russia a better place to do business. It took a while for these changes to help make Russia into a stable place to do business, but this began to happen under the premiership of Vladimir Putin. He was helped, of course, by rising world demand for Russia’s energy and other commodities. Prices have been increasing a lot in recent years (before collapsing recently), and this helped Russia look to the rest of the world as a good place to do business. Britain decided to go full steam ahead with economic global integration.
Of course, with current economic events shaking the world economy, we begin to see some of the potential negative effects of globalization on Russia. The problems point to one of the serious drawbacks of globalization: when you open your economy up to the other economies of the world, you can get very rich as long as they do well—but you also become very vulnerable to their problems. ...Download file to see next pages Read More
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