Russia in 2015: An economic slip back to the 1980s?

Russia in 2015: An economic slip back to the 1980s?

Russia seems to have stepped back in time, with Western sanctions taking their toll on the economy, much like the 1980s, explains Tom Stevenson, investment director at Fidelity Worldwide Investments.

The reconstruction of Russia's political and economic systems under President Mikhail Gorbachev's prescription of Perestroika in the late 1980s demanded perseverance from the Russian people. They were to endure economic hardship and food shortages for several years, while the transition was underway. Today, many ordinary Russians are threatened with another difficult period, although for very different reasons. A falling oil price and Western sanctions following Russia's intervention in Ukraine, are the current threats to economic prosperity. Growing economies At last month's G20 sum...