|the news of the recession caused by the russia ukraine war is there a country that is free from recession?
the news of the recession caused by the russia ukraine war is there a country that is free from recession?
Currently, there are rumors and forecasts of a global recession where this recession is caused by the Russia - Ukraine war where we know these countries are countries that have a large share in the global market. Where Russia itself is an oil and gas producer and a large food producer and Ukraine is the largest producer of food, especially wheat in the world. Of course, if this country continues to fight and sacrifice various facilities and agricultural land, this can make the State - a country whose majority of people consume wheat as food become disturbed and can trigger famine.
And if you look deeper, we can see the huge role of these two countries for international trade where some time ago when NATO or OTAN Countries criticized Russia's actions to invade Ukraine and then gave sanctions against Russia in the form of Russia's expulsion from the Swift payment system, the ban on the export of semi-conductor chips and even the penalty of Russian oil and gas causing an increase in prices and scarcity of fuel in a number of countries this of course, imposing on the public is certainly open that's all because Russia's blockade of wheat export supplies has caused fears of increasing hunger in the world.
As a result, this has caused a lot of problems ranging from rising inflation, interest rates that continue to be raised in a number of countries, the number of capital markets that have been affected due to investors' concerns because it is feared that this condition will worsen due to the war that is not clear when the war is over, and various other impacts.
Perhaps we feel whether or not it will affect all States and how the State can get out of this problem. Let's discuss it briefly and rather densely. The first is related to the increase in energy prices, namely oil and gas, we can clearly see which countries mostly use oil and gas as energy to drive their power plants, of course, due to the scarcity of gas and oil, this causes an increase in electricity prices because energy to run their power plants uses oil and gas, then the majority of vehicles generally use petroleum as fuel, well maybe there are also many vehicles which uses electrical energy but still many use petroleum energy. This causes people to have to spend more to buy electricity and fuel for their vehicles and we know that these two things are the primary needs needed every day for certain individuals or profit-making organizations. And this makes people's purchasing power decrease and as a result of this the income of the State or the economy of a State becomes disrupted. Then the problem of food where this is also very big a role for the emergence of recession when foodstuffs become expensive, unnecessary household expenditures will be reduced which ultimately affects non-primary goods and services, people will focus on their primary goods instead of non-primary goods. Actually, the very complex problems that this war has caused ranging from the scarcity of certain goods and services to price increases, and much more. And if this war continues then that recession will come even now maybe in some Countries already feeling the impact of this war.
However, there are Countries that are not expected to be affected and even benefit from this war, namely Countries that have resources, of course these Countries are not affected where this is because their goods or services are needed by other States, such as coal-producing countries will get benefits or increased demand due to this crisis because oil and gas are scarce to substitute the country is said to buy coal as energy to generate electricity. Or grain-producing countries such as rice will benefit because of the availability of a small supply of wheat in the international market. In essence, Countries that lack resources will be affected but if the Country is developed and the technological development is good, the impact can be neutralized little by little but if it is not well, it will still get a fairly heavy impact while the State that has resources is also only affected by certain sectors and may be sought for substitution to cover the shortage or absence of these goods or services.
The author hopes that the war will be over and the world will return to peace as before and the States in the world work together to overcome the existing problems and create unity so that human sacrifice in the future can advance and achieve the common minds of mankind, namely exploring the universe.
Terimakasih Semoga bermanfaat !!