To Russia and Ukraine, the crisis is an existential issue. To the US and NATO, it’s a regime-change game. To Europe, it means the demise of stability — in the world economy, lost years (and that’s the benign scenario).
THAT’s how I characterized the US/NATO-led proxy war against Russia in Ukraine back in early March 2022. I argued that it was an avoidable war that would severely penalize Ukraine, Russia, the US and NATO, Europe, developing countries and the global economy (“The unwarranted war,” The World Financial Review, March 9, 2022).
At the time, the prediction was seen as contrarian. But it has prevailed, as I show in its just-released sequel (“The unwarranted Ukraine proxy war: A year later,” The European Financial Review, Jan. 27, 2023). In this 5,000-word research analysis, I explain why Russia’s economy has remained resilient; how international…
