Russia's brain drain has become its economy's biggest problem, an economist told Business Insider.
The long-lasting nature of brain drain makes the issue more serious than, say, inflation, which could be remedied by central bank maneuvering.
Over the next decade, Russia's economy could devolve into one dependent mainly on its natural resources rather than on the most innovative industries, Portes speculated.
That's similar to what other economic forecasters have predicted, with some warning Russia's economy could become de-industrialized as its resources are siphoned off by the war.
Advertisement"It will be reduced to a resource economy, a natural resource economy," he said of Russia's future.
Persons:
—, Richard Portes, they've, Portes
Organizations:
Service, London Business School, Russia, French Institute of International Relations, Business, Institute of Economics, Russian Academy of Sciences, Labor, Russian, UC Berkeley
Locations:
Russia, Ukraine