Category: Blog

State-owned enterprises don’t play by the same rulebook. When they step into markets where private companies face tight restrictions—defense, energy, telecoms—they don’t just compete. They

Isolated factories, standing alone in a landscape, carry a quiet inefficiency that rarely shows up on a balance sheet. They operate as solitary units, absorbing

Every few months, another headline pops up in the Western press. Russia’s economy, we’re told, is finally about to buckle. Sanctions are cutting deep. The

Beyond the Sanctions Narrative In 2014, when the first sanctions packages landed, Western analysts lined up to predict an outright Russian collapse. Balance-of-payments crises, cascading

For more than two years now, I’ve watched a strange ritual repeat itself. Western newspapers, think tanks, and finance gurus line up to predict the

An energy-dependent economy lives in the shadow of its own ground. When oil, gas, or coal receipts make up the lion’s share of GDP, exports,

Every major disruption delivers the same uncomfortable truth: diversification by itself doesn’t make a supply chain resilient. The pandemic, the Suez Canal blockage, and a