Despite the concerns often voiced, rich Europe can survive this coming winter without Russian energy and with higher food prices. In the worst-case scenario it will have to manage with several years of stagflation. But Chin could soften the apocalyptic effects of the war in Ukraine on the global south. Da Social Europe.
The war between Russia and Ukraine, which has already lasted more than a hundred days with no end in sight, has been nothing short of disastrous. It has resulted in thousands (probably more than a hundred thousand) deaths and injuries, more than five million refugees, destruction of significant parts of Ukrainian territory and likely losses in gross domestic product of more than a third in Ukraine and around 10 per cent in Russia. It has exacerbated inflation in western Europe and the United States. Ideologically, it has led to a Tsarist-like revival of Russian nationalism and a return to a 1950s-style cold-war mentality in the west.