Mark Wu discusses the economic motives behind Russia’s invasion of Ukraine.
Several former Soviet states use Russia’s industrial standards, which creates a captive market for Russian goods. Plus, Wu said Russia can dangle its standards in front of less-developed economies that want a market for their products.
“[This is] to say, ‘Integrate this way towards us. You’re better off doing so. You’re going to be more competitive doing so. And we offer a sizable market where you can compete,’” Wu said.