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According to Shank, "negative unintended consequences occur either concurrently with the war or develop as residual effects afterwards thereby impeding the economy over the longer term". [17] In 2012 the economic impact of war and violence was estimated to be eleven percent of gross world product (GWP) or 9.46 trillion dollars. [ 18 ]
The effect of sanctions, especially the price caps on both crude oil and processed oil which came into effect in late 2022, early 2023 resulted in an immediate fall in Russia's oil revenues with Q1 of 2023 recording income of just $19.61 billion, far below the 2023 budget of $35 billion per quarter and the 2022 results which averaged $42 ...
Even before last week’s invasion, the Dow had been in a slump, and the Russia-Ukraine tension has probably played some role. As of Friday’s close, the Dow was down by 2,500 points, or 7 ...
The dissolution of the Soviet Union ended the Cold War and led to world that is widely considered as uni polar, with the United States being the sole remaining hyperpower, but many other rising powers hold great influence in the world and are certainly superpowers. The Cold War defined the political role of the United States after World War II.
The term treadmill of destruction reflects the consequences to the existence of Allan Schnaiberg's theory of the treadmill of production introduced in 1980. [6] [7] Although this term is not commonly used in society, researchers, sociologists and economists have widely used this coined term to describe and discuss the debt of Schnaiberg's theory for the dynamic expansion of capitalism ...
With war dragging on, some of Ukraine's millions of refugees are beginning to think about settling for good in the countries they find themselves in across Europe, posing a challenge to rebuilding ...
GENEVA (Reuters) -Gaza's economy has shrunk to less than a sixth of its size when the Israel-Hamas war began nearly a year ago, while unemployment in the occupied West Bank has nearly tripled, a U ...
A war economy or wartime economy is the set of preparations undertaken by a modern state to mobilize its economy for war production. Philippe Le Billon describes a war economy as a "system of producing, mobilizing and allocating resources to sustain the violence."