From Investors Business Daily:
Financial Crisis: Recession has left many of the world's worst-run economies in roughly the same condition as General Motors. Russia is one of them, and the World Bank thinks they're going to need a bailout. Not so fast.
Russia is falling apart fast. High oil prices have come and gone. Investment has fled. Industrial output plunged 10.8% in November, and growth is forecast at 3% in 2009.
Calculating that high oil prices would last, its leaders never diversified its economy, so oil at $30 a barrel is going to hurt badly.
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