Russia’s aggression in Ukraine has resulted in devastating consequences, including destroyed lives, homes, and infrastructure. Moreover, the war poses a significant threat to the world’s economic recovery from the COVID-19 pandemic, with inflation, food security, energy security, and supply-chain pressures among the many challenges that policymakers worldwide must tackle. It is widely accepted that Russia’s war in Ukraine is beginning to reshape the global order. Following the invasion, many analysts pointed out that Putin underestimated the Western and Ukrainian response. Hie invasion generated a political earthquake in Europe, with hundreds of thousands protesting against Russian military action on Ukrainian territory. Amid a sudden shift in Europe’s political mood, most of the German population supported tough measures against Russia, even though they were aware they would have a negative economic impact. The war activated a mechanism many Europeans had forgotten: economic interests take a back seat when national security issues come into play.
The Russian invasion of Ukraine highlights the difficulty developing countries will face maintaining cordial ties with all significant power poles. The result of this divorce will be a more politicized and localized economy, with multinational corporations having to be constantly aware of risks such as trade and technological wars. This will inevitably lead to a less efficient economic system with higher prices, less innovation, and greater political and military conflicts risk. The trend toward geopolitics and permanent tensions between great powers seems to be returning, and this could mark the beginning of the end of globalization as we know it...

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