Why did Russia become so poor after USSR collapsed but China became so rich after market economy?

[I miss George Washington]

what's the difference?
it's two giant countries with same ideology that both switched to market economy or capitalism? why the outcome so different?

don't deny it, thousands of ''Natasha'' whoring in Beijing,Shanghai,etc...all major cities are an example.
no offense to Russians. i like them. my ex bf's friends are friends with some of them. some are very cool intelligent people, plus tall and sexy and hot!

[flingebunt]

Well your information is not exactly correct.

On one hand, China is still very poor outside of the major cities (and many people in those major cities are also poor). They though have less chance to go abroad (and whore it up like the Russians).

Russia's economy had a few problems making the transition to a market economy but it is doing fairly well. However, there are whole regions that are really doing things on their own with little central help.

Russia also made the transition rapidly to a market economy in the 1980s.

China, started in the 1970s and went in a systematic manner.

So both are doing well, with Russia a little less organised than China, but that is the Russian way.

[sailor8]

I am just curious who told you this? Russia became poor? Now China is rich? I wish China was rich. Some of China has caught up to the rest of the world in a few things. China as a nation is still back in the past. The woman I married has a good education and would live a good life in the US. In China her mothers home does not have a bath. I can understand how China with all the people it has would still be this way in the area where she lives. She lives in the mountains north of North Korea in a small village. I have only been there a few times but it is a very pretty area. I use this as a example to show China as a country is not rich in money. My wife still lives in her apt, we are trying to get US Visa, in the city. Her place is by no means what I would call up class. China is getting better but it has a long way to go. There are some very rich people in China and they live a very good life but as for the country, it is getting better. Russia has never been a rich country. It has more rich people now than it has ever had. Read more, listen less.

[George Washington]

China is indeed a thriving nation. China has the second largest economy on Earth (US$5 trillion) and its GDP has been growing at 10% annually for the last decade. China has a middle class larger than the entire population of the United States. Economic opportunity is everywhere, though it is most evident in China's cities.

With the exception of its lucrative oil and gas industries, Russia has struggled since the fall of the Soviet Union. Boris Yeltsin was too focused on democracy and not enough on economics. Vladimir Putin seems too focused on his own image and rekindling nationalism. Once again, the focus needs to be on economic development like it is in China.

China's post-Mao leadership has emphasized practical solutions for economic development and social challenges. Improved standard of living, access to education, health care, and social justice have brought China from a humble position 30 years ago to its present economic super-power status. Creating economic opportunity through a well regulated capitalist system has produced great success for China.

I don't understand the remarks from "sailor8". He claims to live in America while his wife lives in poverty in China? That's strange. I wish that my 5 ex-wives would live in poverty.

[giganticrifle089]

The main reason is that China didn't put most of its money into the military.

http://www3.telus.net/EKaminski/collapse.htm

Quotes

Military Spending: 15-25% of GNP, Americans spent only 5-7%, too much on guns, not enough on butter. (at the time)

and not to mention the Chernobyl Nuclear Disaster 1986 added more pressure on the Russia to reform, but because more money was being pumped into the army it just paved the way for it to collapse.

China on the other hand has had a weaker army because it spend the money into reform programs.

Now with it being the second highest economy in the world is it starting to invest money into its army especially with the building of aircraft carriers. What will China do with its growing military might is anyone's guess.

EDIT: In fact if we compare GDP per capita Russia is more better off than China today.

http://en.wikipedia.org/wiki/File:Averag...capita.svg

We see GDP is below average for China while GDP is above average for Russia.

[Greg S]

there are plenty of rich russians and plenty of poor chinese

however, the chinese do not have a pure market economy, the central government still exerts much control

[TEXIN LIMITED]

There's a difference.
China changed it's economy from the traditional communist model to it's own unique capitalist but yet still communist model as part of a reform. It is called in Chinese 中国特色社会主义 (Chinese Special Socialism).

However USSR and most of the communist countries have fallen because of corruption and corrupt party officials craving for power and control. Thus the old regime was changed, but not part of a reform, just part of replacing an old regime with a new gvmnt formed from old corrupt party members.

[Dan Cupid]

According to wikepedia the GDP per capita in Russia is $14,920US; the GDP per capita in China is $6,567 - less than half

[coolz]

so poor, so rich, so what
well, it's no secret that piracy is one of those that upped the sales of china, don't deny it. millions of "fake" goods selling Beijing, Shanghai, etc...all major cities are an example. no offense to Chinese. i like them, some are very cool, i bought a fake iphone myself.

[Chan]

The two socalled countries are of great difference since they split in 1960s. China have a longer history, they known better than polar bear.