Washington Post: Russia's Ukraine invasion could be a global economic 'game changer'
WASHINGTON - Russia's invasion of Ukraine and the financial reckoning imposed on Moscow in response are proof that the triumphant globalization campaign that began more than 30 years ago has reached a dead end.
Fallout from the fighting in Ukraine will take a meaningful bite out of the global economic recovery this year, with the greatest impact in Europe, economists said. A spike in oil prices to more than $110 per barrel and renewed supply chain disruptions - including fresh headaches for the auto industry - also are likely to aggravate U.S. inflation, already at a 40-year high.
But the war's long-term consequences could be more profound. Even before Russian President Vladimir Putin sent tanks and missiles hurtling toward Ukraine, years of deteriorating U.S.-China relations and failed global trade talks had stalled the tighter integration of finance and trade flows that had been anticipated during globalization's heyday.
Read more ....
WNU Editor: The global economic impact is being felt right now .... Oil Prices Settle At $120 As Fears Of A Russian Crude Ban Remain (OilPrice.com). More here .... Russian war in world’s ‘breadbasket’ threatens food supply (AP).
5 comments:
So what was the rationale for the Biden regime to keep importing oil from Russia -- fully knowing about Putin's plans to restore glorious Soviet Union -- AND at the same time destroying the US's own oil/fracking industry which saw a massive boom under Trump and led to USA becoming a net exporter (and one of the biggest on Earth) at the same time?
Answer: Treason
Biden doesnt know his own name.
it is not Anon, anon
A bipartisan group of lawmakers said on Monday that they would move forward with legislation that would ban imports of Russian energy into the United States and suspend normal trade relations with Russia and Belarus in response to the invasion of Ukraine.
The legislation is aimed at inflicting further financial pain on Russia and Belarus, which has been aiding the conflict, by cutting off Russia’s oil exports into the United States and giving President Biden the ability to increase tariffs on products from both countries.
GEEZER ALERT
3:51 is reading to us from his bible.
https://www.nytimes.com/2022/03/07/business/russia-us-trade-relations.html
Post a Comment