Amusingly, we’re seeing history on repeat here. In the early 20th century, while western economies were becoming increasingly intertwined, the Soviet Union stood apart. As the sole communist state, its trade connections with the capitalist world were minimal. When the Great Depression struck, closely linked economies of the capitalist countries suffered devastating blows, while the Soviet Union’s closed system largely shielded it from the crisis.
In fact, one could argue that the depression even benefited the USSR. Desperate times in the West created a unique labor pool for the Soviets. To fuel their ambitious industrialization plans, they recruited skilled workers, especially from the USA. Engineers, farmers, and industrialists flocked to the USSR, in search of opportunity.