History students must have heard the phrase “the rise of one empire is the fall of another” or vice versa. One of the implications of this statement is that the global community is interconnected. Happenings in one part of the world will have their bearing on other parts – positive or otherwise.
Many of us may have heard such talks but only understood this in theory. Well, the Ukraine-Russia crisis is practically teaching every one of us how this statement is true. For one, you should know that there are winners and losers as a result of the crisis between these eastern European nations.
Of course, the biggest losers happen to be the major warring parties – Ukraine and Russia. The former is certain to suffer the most and this is already playing out. Financial analysts have ascertained that the Ukrainian economy will suffer no less than a 45% loss as a result of the ongoing crisis.
Although Russia’s negative report does not come any close to this, the nation is not free from economic nightmares. Financial analysts have ascertained that the nation – Russia; will suffer no less than a 12 percent economic loss as a result of the crisis. To further complicate things, it should be noted that Russia is being hit with sanctions from every direction and Putin may be dealing with more than he ever imagined. He may just be too proud to admit it.
Coming to terms with how both nations have been negatively affected by this ongoing war is not a hard nut to crack. It is even what we have learned from history as war always comes with its negative price. However, the more important point being established here is that nations other than Russia and Ukraine have been hit hard by the war.
Why Other Nations Are Paying the Price for Putin’s Invasion of Ukraine
Both warring nations have been central to the global availability of sunflower oil and wheat over the years. No other nation comes close to Ukraine and Russia in terms of making both food crops available.
As you already know, export has been badly affected by the war and this has taken a massive toll on the global community. As a result of this, there is a shortage of food supplies. Other than this, the cost of getting food supplies has skyrocketed in many parts of the world.
Third-world nations are the most affected but even people in some European nations have been affected as well. For example, there have been ongoing protests in Brussels, Belgium as a result of increasing living costs that boil down to the war between Russia and Ukraine. Nations like Sri Lanka are now being forced to be overly dependent on the International Monetary Fund for a huge financial bailout. Sadly, this is without a logical way to pay back their debt.
The global community is indeed interconnected. This is why actions such as Putin’s invasion of Ukraine should never happen again. The global community relies a lot on global peace and international organizations like the UN must wake up to their responsibility in this regard.