The conflict threatens inflation, capital flight, higher rates of interest and thwarted economic recovery for the world; the point is to end it through Ukraine adopting neutrality
Dear Prudent International Affairs-Economics Editor,
Your opinion is in line with Prime Minister Narendra Modi in 2019 envisioning making India a USD 5 trillion economy & a global economic powerhouse by 2024-25. I hope he and Dr S Jaishankar, your senior in JNU with other diplomats having a say in international relations for India in Ukraine, the States, Europe & Russia & of course NATO would act to help Indians & Indian economy's recovery which is yet to improve and has a long way to go.
While India's economic recovery remains disappointingly weak in 2022, the opinion explicitly assesses the macroeconomic impact of Russia-Ukraine war, acknowledging & examining the counterfactuals to be given top considerations determining unintended negative consequences evidently associated with derailed budding recovering of India & the World at-large. While the 2nd COVID wave, surge in Delta & Omicron variants globally challenged the entire globe & especially the emerging market economies like India.
As says the headline, summary line, image caption with first two paragraphs & subsequent paragraphs, I completely understand that adverse effects would show up no sooner than spot crude prices touching $135 in the current year resulting in subdued global trade growth, high inflation(edible oils are high priced already), depreciation of rupee, higher import cost including oil imports & yes, footloose capital with the COVID shock would readily displace productive outlays like budget allocations in infrastructure, technology, healthcare, education, production of goods with subsequent painful adjustments which are neither efficient nor desirable from any point of view.
At a time, when financial instability risks persist & inequality of incomes have taken a toll on the well-being of people. Let's remind ourselves of stagflation brought on by the oil crisis in 1973 depressing the markets?
I relate to the last few concluding paragraphs, in concurrence with your pov on implications of the war & economic sanctions on Russia as was the case with India earlier, I certainly foresee decline in investment & consumption, higher income rates indicating economic growth lower than immediate pre-war & pre-pandemic years for India & the world. This is also important for the U.S. citizens & European people over the ensuing years. Don't we Indian policy makers, economists & visionary economic journalists like you consider inflation as the dominant economic narrative?
If yes, then PM Modi must quickly lead the dialogue between Russia-Ukraine & continue to help humanity amidst weak economic conditions & contribute towards reconstruction of emerging market economies & others.
Most appropriately & convincingly, the last two concluding paragraphs assert that political will to be exercised by the political leadership of India is an immediate requirement to end this enormous urgency heading towards peaceful world order urging Russia & pressing for a neutral Ukraine.
Overall, not over looking at the existential threat the US & Europe have created through the existence & expansion of NATO. Thank you, and keep writing marvelous people and democratic centric opinions for better and best of humanity!! God bless you!!
Dear Prudent International Affairs-Economics Editor,
Your opinion is in line with Prime Minister Narendra Modi in 2019 envisioning making India a USD 5 trillion economy & a global economic powerhouse by 2024-25. I hope he and Dr S Jaishankar, your senior in JNU with other diplomats having a say in international relations for India in Ukraine, the States, Europe & Russia & of course NATO would act to help Indians & Indian economy's recovery which is yet to improve and has a long way to go.
While India's economic recovery remains disappointingly weak in 2022, the opinion explicitly assesses the macroeconomic impact of Russia-Ukraine war, acknowledging & examining the counterfactuals to be given top considerations determining unintended negative consequences evidently associated with derailed budding recovering of India & the World at-large. While the 2nd COVID wave, surge in Delta & Omicron variants globally challenged the entire globe & especially the emerging market economies like India.
As says the headline, summary line, image caption with first two paragraphs & subsequent paragraphs, I completely understand that adverse effects would show up no sooner than spot crude prices touching $135 in the current year resulting in subdued global trade growth, high inflation(edible oils are high priced already), depreciation of rupee, higher import cost including oil imports & yes, footloose capital with the COVID shock would readily displace productive outlays like budget allocations in infrastructure, technology, healthcare, education, production of goods with subsequent painful adjustments which are neither efficient nor desirable from any point of view.
At a time, when financial instability risks persist & inequality of incomes have taken a toll on the well-being of people. Let's remind ourselves of stagflation brought on by the oil crisis in 1973 depressing the markets?
I relate to the last few concluding paragraphs, in concurrence with your pov on implications of the war & economic sanctions on Russia as was the case with India earlier, I certainly foresee decline in investment & consumption, higher income rates indicating economic growth lower than immediate pre-war & pre-pandemic years for India & the world. This is also important for the U.S. citizens & European people over the ensuing years. Don't we Indian policy makers, economists & visionary economic journalists like you consider inflation as the dominant economic narrative?
If yes, then PM Modi must quickly lead the dialogue between Russia-Ukraine & continue to help humanity amidst weak economic conditions & contribute towards reconstruction of emerging market economies & others.
Most appropriately & convincingly, the last two concluding paragraphs assert that political will to be exercised by the political leadership of India is an immediate requirement to end this enormous urgency heading towards peaceful world order urging Russia & pressing for a neutral Ukraine.
Overall, not over looking at the existential threat the US & Europe have created through the existence & expansion of NATO. Thank you, and keep writing marvelous people and democratic centric opinions for better and best of humanity!! God bless you!!
Best regards,
Vandana