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Russia’s pride in its past is keeping it earthbound

Elon Musk Leaves Vladimir Putin Stranded on Earth — Clara Ferreira Marques

Sixty years ago this month, with a rallying cry of "Poekhali!" (roughly, "Let's go!") and a 108-minute flight, Yuri Gagarin became the first man in orbit, providing a grinning snap for the front pages and an unparalleled public relations win for the Soviet Union. Space lore remains powerful, and Gagarin a national hero. A majority of Russians still believe their country is a leader at the final frontier. Naturally Moscow christened its first approved coronavirus vaccine after Sputnik, the satellite whose launch in 1957 terrified the Western world. And while President Vladimir Putin is not an interplanetary travel enthusiast, he is keenly aware of the military and geopolitical implications of a space program.

But Russia is not the force it was. The industry has been hurt by Western sanctions. Worse, a combination of bureaucracy, military secrecy and a state-dominated economy have failed to foster private space enterprises of the kind driving innovation in the U.S.

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India's Covid Crisis Has a Familiar Culprit — Mihir Sharma

Will China Help With Huarong's $22 Billion Bill? Don't Hold Your Breath — Shuli Ren

Prince Philip Was No Saint, But He Was the Queen's Rock — Martin Ivens

Why New York May Emerge From Covid Richer Than Ever — Pete Saunders

There's a Lot of Unused Oil Stored Up Around the World — Julian Lee

Forget Boise. Buy Rental Properties in These Cities. — Alexis Leondis

Europe Is Heading Toward a New Financial Crisis — Bloomberg's editorial board

The New Mercedes Is a Mix of Tesla and Ferrari — Chris Bryant

How Bernie Madoff Fooled the World — John Authers

This is the Weekend Edition of Bloomberg Opinion Today, a roundup of the most popular stories Bloomberg Opinion published this week based on web readership.

 

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