Kazakhstan is still far from being the developed market economy its leaders pine for. And the current crisis risks shunting the country back toward a more traditional, state-directed stance.
A British court has unfrozen $99 million in property belonging to the former president’s daughter and grandson, only after they spoke more candidly about the sources and scope of their wealth than they have ever done at home.
Trade has plummeted, Chinese goods are disappearing from markets, and exports of China’s favorite Central Asian commodity – natural gas – have nosedived.
The region is tightening belts and preparing for pain. But there are reasons to hope the trickledown from Russia won’t be as bad as last time, in 2014.
