Project Syndicate: Why Putin can’t make Russia great again

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Vladimir Putin will meet with Donald Trump on Friday.

CAMBRIDGE, Mass. (Project Syndicate) — When Russian President Vladimir Putin meets his American counterpart, Donald Trump, at this week’s G-20 summit in Hamburg, he will not be doing so from a position of economic strength.

To be sure, despite the steep drop in oil prices CLQ7, -0.23% that began three years ago, Russia has managed to escape a deep financial crisis. But while the economy is enjoying a modest rebound after two years of deep recession, the future no longer seems as promising as its leadership thought just five years ago.

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