Introduction to Comparative Politics - Essay Example

However, the ignored internal dynamics within the Chinese and Russian economies do have a direct impact on the regime stability in these countries.3 A lopsided distribution of the national wealth, corruption and a marked regional in-equilibrium in terms of economic development, do have the potential of disturbing political stability in China.4 At the same time, the ongoing economic meltdown and the 2008 oil price crisis had a dwindling impact on the popular support enjoyed by the Russian regime.

Both these countries have embarked on an era of economic growth. However, the inbuilt flaws inherent in the politico-economic setup of these nations and external influences and pressures, are making the regimes in these countries rethink their growth strategies. There is no denying the fact that the above discussed internal and external socio-economic issues are quiet pivotal to the regime stability in China and Russia. The seven year (1991-1998) economic transition from the Soviet style centralized economy to a free market economy in Russia was tragically marked by chaos and instability.

In the years of Boris Yeltsin, the Russian GDP dwindled by almost 30 percent.5 The inflation rates soared to new heights, resting at 20 percent by the late 90s.6 This deprived the Russian masses of their savings and purchasing power. The quality of life of the Russian people deteriorated on all parameters.7 This dire situation was further aggravated by a massive capital flight from Russia.8 This economic fiasco had a direct bearing on the popular support enjoyed by President Boris Yeltsin. People soon started to get critical of one’s ill conceived and poorly executed economic policies.

However, things started to improve in 1999, with the change of regime in Russia. An ambitious growth in GDP translating into increased real wages and better standards of living and lower levels of poverty, garnered ample support for President Putin, till the dwindling of oil prices