Post
Topic
Board Economics
Re: The impact of Russian and Ukrain war on world economy
by
coupable
on 02/09/2022, 18:37:07 UTC
There is war in Ukraine - there is killing in Syria and Palestine and in Afghanistan. There is drought in Europe and there is floor in South Asia and there is crisis in Sri Lanka - which part of the world is in peace?
But the Russian war has a serious impact on the world - may there be peace and blessing upon the world

From a global economic point of view, Syria and Afghanistan are not important. Even in terms of crude oil production, Syria ranks much below other countries in the middle east. Afghanistan is even more irrelevant. On the other hand, Russia (and to some extent Ukraine) are among the most crucial countries in terms of commodities. Russia is the top producer of oil, gas and potash fertilizer. Russia and Ukraine are among the top producers of wheat and sunflower oil. And for Europe, most of the gas pipelines run through Ukraine.
I think that all of these events are linked to each other in one way or another. It cannot be asserted that one region is more important than another, or that an issue around which a conflict revolves somewhere in the world (on an international scale) is more or less important than another issue.
For example, I see that the current Chinese crisis on the island of Taiwan is no less important than the energy crises caused by the Ukrainian conflict.