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> Mr Malpass said the economic impact of the war stretches beyond Ukraine's borders, and the rises in global energy prices in particular "hit the poor the most,
by chiefalchemist 5y ago
> Mr Malpass said the economic impact of the war stretches beyond Ukraine's borders, and the rises in global energy prices in particular "hit the poor the most, as does inflation".
Food prices have also been pushed up by the war, and "are a very real consideration and problem for people in poor countries".
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So effectively it already is WW III, with perhaps the worldwide economic fallout to far exceed the damage to the two countries involved.
The irony is, we were promised that a global economy would all but guarantee peace. Until it doesn't and then the shit hits the fan.
It must be nice to be one of the elites.
- sharken 5y agoIt has always been nice to be one of the elites, minus the armored cars and 24/7 security you also need. What is a wonder to me, is that China, Brazil and most of Asia seem content with being passive bystanders. Aggressive sanctions applied especially by China would be very effective in ending this conflict. But i guess you don't sanction one of your own.
- chiefalchemist 5y agoPassive bystanders? You mean like the USA into Iraq? Regardless, this is a reflection of how the rest of the world sees it. As in, these countries aren't subject to the media's excess, hyperbole, etc. Brazil has no skin (read: support for) Ukraine or most of Europe. They're more brown than white. China? China is happy to see The West flush its money down the crapper. It's in no rush. It knows the more wars we fight, the more money we'll print, and the closer we'll get to our own economic implosion. Yeah, that would hurt them as well. But they'd then be The New Boss, and we'll be The Old Boss. China will take the short term hit to get that crown. China is looking ahead. The USA and most others are still in the 20th Century.