this post was submitted on 04 Mar 2022
0 points (50.0% liked)

World News

32895 readers
535 users here now

News from around the world!

Rules:

founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] -2 points 2 years ago

According to The Economist, the Russian currency should've been worth around 70% more against the U.S. dollar than its current level of around as calculated using Big Mac Index. This means that real Russia's economy is bigger than Germany's. https://www.economist.com/big-mac-index

However, the more important part is that Russia is one of the biggest commodity exporters in the world, and there aren't any readily available replacements. This includes things like food, fertilizer, titanium, energy, and many other things. This notion that Russia is some irrelevant country in the global scheme of things is beyond hilarious. And if you look at what's happening to the global economy as we speak then you'll see just how deranged this notion is.