miketheterrible Sat Aug 04, 2018 12:31 am
We are nowhere near diversified as you guys. Can you name me a Canadian product? We don't even make much for weapons anymore other than LavIII and AR-15 style rifles. Our exports consist of automobiles (US made ones) and minerals.
You guys sell more in terms of other end goods than us. Energy based ones, high tech, machinery, agriculture (for crying out loud, Rostelsmash owns our only tractor company), etc.
So no, actually you guys are more diversified than us. I know this cause the fact we have to import train components for public transit, from Spain. I was lucky to have family in government that deals with this kind of crap. 80% of our exports goes to 1 nation - USA. And we give them oil at cost of $35 per bbl, and we end up buying back petrol from them at cost plus - that cost being oil prices on global market. So we are losing billions per year to the Americans in our oil sales. And we still import oil off of Newfoundland from Saudi Arabia. Can you believe that? It is stupid. But, like Russia, Canada doesn't rely on its current account (export) on its economic prosperity. Russia just has good current account but it only accounts for small portion of its total economy. That will continue to shrink when service sector increases and further self sufficiency. Turkey is working on that path too. It isn't easy, and it will continue to be hard. But they will get over it. They have no choice, as you pointed it out.
Edit: as well, it seems that localization of parts for Ford is around 60%, not 50%. So I assume that Ladas would be much more than that, than ford.
https://sdelanounas.ru/blogs/101371/