What led to the decline of the Soviet unions economy? Low military budget being lagging behind the Western world high levels of innovation or successful joint ventures with the west.
Several factors led to the decline of the Soviet Union's economy, including:
1. Low military budget: The Soviet Union had a high military budget, with a significant portion of the economy being devoted to maintaining a large military. This led to resources being diverted away from other sectors of the economy, hindering overall economic growth.
2. Lagging behind the Western world in terms of innovation: The Soviet economy was characterized by central planning and lack of competition, which stifled innovation and technological development. This put the Soviet Union at a disadvantage compared to the more technologically advanced Western countries.
3. Lack of successful joint ventures with the West: The Soviet Union's isolationist policies and refusal to engage in meaningful economic cooperation with Western countries limited its ability to access new technologies, capital, and markets. This contributed to the decline of the Soviet economy.
Overall, a combination of economic mismanagement, lack of innovation, high military spending, and limited economic cooperation with the West all played a role in the decline of the Soviet Union's economy.