How will this war change the world?
Russia has finally invaded Ukraine, since the attack, some people have been asking the question, in fear, whether it is the beginning of World War III. I have finally used the word because for weeks the situation seemed to be going this way. Many intelligent and intellectual people have written numerous columns on why and how this war started and what would be the logical end, this student does not want to do any blasphemy in this regard, but I must say that this war did not give rise to the New World War at all, but by turning this world and its direction into some aspects. And more has to be changed.
Today's article will talk about the same effects of war.The first and most obvious impact of this war on the world will be economic. Russia is the third largest country in the world in terms of oil supply and Europe depends on Russia's oil and gas, so Russia is an important country in the global economy. This war and the sanctions imposed on Russia because of the war will have the first clear impact on inflation. The government has already been criticized for inflation, with a major role being played by its poor policies. The Prime Minister has also pointed out this in his address and it is welcome that he has given relief to the people in petroleum and electricity prices but if oil prices go up further in the global market, the effect of this relief will not last long.
Therefore, there is going to be a more difficult time for the people who are already in the mill of inflation. It remains to be seen how the IMF, which has already imposed strict conditions on Pakistan, reacts to this relief because the IMF has to give Another $3 billion to Pakistan as scheduled by September, so we cannot go back and forth beyond the IMF program.On the other hand, in the context of this war, the European Union wants to change its identity in the world, and in its policy, economic as well as defense cooperation will now be a top priority.
Europe will now also try to emerge as a military force. A few days ago, Germany asked for its defense spending to be 2% of GDP, which would double before. Europe has realized that if such an attack could happen after World War II at their door, they would have to be prepared for it.Some important things will change for a country like Pakistan. Now there seem to be clear blocks being made in the world and it will not be easy to be in the good books of all these blocks at the same time. Especially after trying to get closer to Russia, both sanctions and suspicion of scarcity of the West may not make it so easy now. China also seems to be very sensitive in this regard.
One of our compulsions is that the West controls the major institutions of the economy, especially the IMF, and it is only the West that gives you money. Projects in Pakistan can be expected by China and Russia, but Pakistan cannot get much money directly from these countries, even if it gets it.When western and developed countries are more inclined towards self-defense, there may be less money for social projects in developing countries. And since there is no trend of proxy wars like the Cold War, poor countries will face difficulties for aid and inflation will add to these difficulties.
Many analysts in the United States believe that when Donald Trump was president of the United States, the u.S. influence on the international level diminished, and then what happened in Afghanistan, if it wasn't for him, Putin might not have taken such a big step so quickly. It remains to be seen how the United States reasserts itself globally, because over the years, the United States has also opened a front against China, which Trump started, and the second front has now opened up against Russia.
Now, in this context, it is also possible that the East and the West, which were moving away from each other, may now accelerate. Russia, for example, will now be banned from using the Soft Network (through which money is transferred around the world and headquartered in Belgium). With 80 other Chinese countries becoming members, Russia can use the system to replace Swift, thereby intensifying Beijing and Moscow's desire to withdraw from the dollar. This is just one example of decoupling between east and west in terms of the finance sector, and so can such decoupling in other sectors.
Therefore, it will not be easy for Pakistan, which wants good relations with all blocks, to maintain balance among the new blocks that will be formed now.So much is changing and changing, now that this war may end quickly, its effects on the global and individual level will be very long lasting.
