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Less, if Russia resolves its governmental intemperance first. The events of the last few days make it at least plausible that Putin's days are numbered. If so, that's very bad in terms of absolute apocalyptic risk, but probably a good thing as measured by expected outcome. The chances of getting a stable democracy in the next decade might be, I dunno, 40% or greater (and those of dying in a nuclear fireball surely under 1%, right?). So as geopolitics it's probably a mistake, but as investment decisionmaking I think it makes sense. |
i see the history of the last 30+ years as clear indication that Russian society is progressively becoming less and less able to manage large issues. As result i think there is high probability that Russia will breakup after that catastrophe of Ukraine war similar to USSR after Afghanistan (the key to such breakup isn't external forces, instead it is clear disillusionment with existing power). For example, the Far East in particular has no good connection to Russia (and Putin was basically trying to buy them up by sending money which will definitely become problematic once the war related bills, like compensation to Ukraine, start to hit the treasure) while say getting high-speed rail Vladivostok-Dalyan/Bejing would include it into the Pacific ring of the future boom of economic development.