Possible scenarios about the future of world economies

The professor of economics, Dr. Faraj Abdallah, said that the world economy is facing two scenarios regarding the Ukrainian war, which created a global crisis.

Possible scenarios

The first scenario: that with the passing of the current winter, the parties to the conflict, Russia and Ukraine, will reach substantial solutions, and therefore will affect the features of the world economy.

This is achieved through the arrival of the parties to the conflict, Russia and Ukraine, and the poles of international politics, which are China and Russia on the one hand, and Europe and the United States of America on the other.

He explained that the conflict based not only on a disputed area or a military operation, but a number of standards and economic variables at the world level.

The second scenario: that the crisis and the repercussions of the world economy continue and most of the world's economies suffer a great loss.

China's influence expands

Faraj Abdallah explained, which of the two contending poles will control the transactions of the world economy.

He explained that China's international trade has conquered the world and therefore China's influence in the world has expanded significantly during the last 10 years, and therefore the influence will be between China and the European countries, it is a conflict based on who controls international trade and who opens up new markets to them.

The impact on international trade

Earlier, the World Bank and the IMF confirmed in their reports that there was a strong shock caused by the Russian operation in Ukraine, which led to an increase in price rates to record levels in all economies in the world.

  This crisis led to record rates of inflation in the United States of America, the United Kingdom and European countries, which affected the financial policies followed in these countries and greatly affected the volume of international trade.