After the collapse of the USSR some 24 year ago, the Russians have again become poor. ANBOUND"s chief researcher, Chen Going points out that as a country with nearly 84% of urbanization rate (similar to Germany, higher than Italy), there is hardly any operating space that can be offered by the rural areas to rescue the collapsing economy in Russia. If the low oil prices and the Western sanctions continue, the economic collapse in Russia might lead to greater societal problems and domestic crisis. Others countries should draw a lesson from the Russian’s economic situation.
