Worldcrunch
Faced with the threat of global economic chaos brought on by Trump’s tariffs, and accelerated by the war in Ukraine, the Russian economy should be in shambles. However, as noted by Russian economist Władysław Inoziemcew, the situation is far more complicated than it may seem.
By seeking to impose his rules on the rest of the world, Donald Trump follows in the footsteps of his 20th century predecessors in the White House. But protectionism is a whole new trick.
According to the Washington Post, Benjamin Netanyahu promised Joe Biden that he would not attack Iranian oil so as not to jeopardize the global economy — which could have an impact on the U.S. elections. It’s a deal that says a lot about the ambiguity of U.S. power and Netanyahu’s poker skills.
The latest developments in the Middle East are part of longer-term shifts that are pushing to U.S. into a tougher stance in the region.
The destabilization of the Middle East could send prices soaring once more and trigger a new shock for the world economy, which has so far been resilient despite the COVID-19 pandemic and the war in Ukraine.
As recession predictions abound, stakes are higher than ever for the number crunchers at the world’s top central banks, who must also contend with the whims of the political class.
Falling crude prices spell trouble for oil-dependent economies like Venezuela and Russia, with political consequences to follow. Meanwhile, the world’s two biggest economies may fare well.
The most alive of the dead languages is also getting a boost in some surprising corners outside the Vatican walls.