In the USSR, the Ukrainian SSR was one of the most successful republics. It combined a highly developed industry like the Baltic States with wealth similar to that of Transcaucasia. If considered apart from the Soviet Union, its industrial potential and natural resources put it in the first rank in Eastern Europe. Its prospects were the envy of any republic of the former Union. Yet, it so happened that independence turned into a social disaster. The Ukraine hasn’t even been able to restore economic performance to 1990 levels, dropping to a level with Armenia and Tajikistan.
Since independence, the Ukrainian population declined by almost 10 million. A third of the population lives below the poverty line. The economy imploded due to crony capitalistic oligarchic feudalism of unbelievable proportions. Showdowns of Dnepropetrovsk and Donetsk oligarchs degenerated into petty feudal bickering, overshadowing any potential for economic growth. The Ukrainian economy rested on four pillars. Timoshenko destroyed agribusiness, when she signed accession to the WTO on onerous terms. The iron and steel industry is now in a shambles, but that’s a worldwide phenomenon. The chemical industry is in about the same predicament. However, the machine-building industry, which could’ve been an engine of economic growth, decayed. This was due to the intimate ties that such works had with Russian enterprises; independence deprived them of the chance to develop and coöperate closely, which would’ve generated growth and earnings. Regions of the Ukraine are still potentially very rich; the Donbass mines are unique in that they’d be profitable with the right management. However, coal mining in its present form isn’t profitable; it only survives on sweat-shop labour.
ONLY THE NUMBERS
✔ 42.9 million people live in the Ukraine
✔ 9.3 percent unemployment in first quarter/2014
✔ 272 USD (9,830 Roubles. 293 AUD. 299 CAD. 206 Euros. 164 UK Pounds) is the average monthly salary
✔ 19 percent is the inflation target for 2014
✔ 151 billion USD (5.46 trillion Roubles. AUD. 165.8 billion CAD. 114.5 billion Euros. 91.1 billion UK Pounds) external debt of the Ukraine in 2014 (forecast)
✔ 4.7 percent decrease in GDP in second quarter/2014 compared to the same period in 2013
Ukrainian Ministry of Finance data
25 August 2014
Director of the Institute of Globalization
The Galician fascists had 23 years to prove their thesis. They’ve ruined a once-rich country. I often get the feeling that was the West’s intent all along… it knew that the Ukraine would go back to Russia, so, it encouraged trends that would knacker it, and cause Russia to be held back for a generation to rebuild it.
Don’t get smug… the US Republican Party favours policies IDENTICAL to those of the oligarch junta in the Ukraine. It wants to smash its boot into the faces of the poorest, just as the Ukrainian junta does (with the BLESSING of the UGKTs and the schismatics, I might add). The blood and gore doesn’t bother Poroshenko, Balogh, the Rabbit, Turdchinov, and Avakov, and certainly not Mizz Yuliya and Shylock Kolomoisky. Look at it and reflect… that’s what the US Republican Party (or the UK/Canadian Conservative or Australian Liberal Parties) want to do.
Look at what happened in the Ukraine. It was a New Dark Age… and it ain’t over yet. Let’s not have it here…