Concept
Economy of Russia
Related concepts (16)
Volga
The Volga (Во́лга) is the longest river in Europe. Situated in Russia, it flows through Central Russia to Southern Russia and into the Caspian Sea. The Volga has a length of , and a catchment area of . It is also Europe's largest river in terms of average discharge at delta – between and – and of drainage basin. It is widely regarded as the national river of Russia. The hypothetical old Russian state, the Rus' Khaganate, arose along the Volga 830 AD. Historically, the river served as an important meeting place of various Eurasian civilizations.
Trans-Siberian Railway
The Trans-Siberian Railway, historically known as the Great Siberian Route and often shortened to Transsib, is a large railway system that connects European Russia to the Russian Far East. Spanning a length of over , it is the longest railway line in the world. It runs from the city of Moscow in the west to the city of Vladivostok in the east. During the period of the Russian Empire, government ministers—personally appointed by Alexander III and his son Nicholas II—supervised the building of the railway network between 1891 and 1916.
Deregulation
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere. It is the repeal of governmental regulation of the economy. It became common in advanced industrial economies in the 1970s and 1980s, as a result of new trends in economic thinking about the inefficiencies of government regulation, and the risk that regulatory agencies would be controlled by the regulated industry to its benefit, and thereby hurt consumers and the wider economy.
Russian oligarchs
Russian oligarchs (oligarkhi) are business oligarchs of the former Soviet republics who rapidly accumulated wealth in the 1990s via the Russian privatisation that followed the dissolution of the Soviet Union. The failing Soviet state left the ownership of state assets contested, which allowed for informal deals with former USSR officials (mostly in Russia and Ukraine) as a means to acquire state property. The Russian oligarchs emerged as business entrepreneurs under Mikhail Gorbachev (General Secretary 1985–1991) during his period of market liberalization.
G20
The G20 or Group of 20 is an intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the global economy, such as international financial stability, climate change mitigation and sustainable development. The G20 is composed of most of the world's largest economies' finance ministries, including both industrialised and developing nations; it accounts for around 80% of gross world product (GWP), 75% of international trade, two-thirds of the global population, and 60% of the world's land area.
BRICS
BRICS is a grouping of the world economies of Brazil, Russia, India, China, and South Africa formed by the 2010 addition of South Africa to the predecessor BRIC. The original acronym "BRIC", or "the BRICs", was coined in 2001 by Goldman Sachs economist Jim O'Neill to describe fast-growing economies that would collectively dominate the global economy by 2050. The BRICS have a combined area of and an estimated total population of about 3.21 billion, or about 26.7% of the world's land surface and 41.