The Russia-Ukraine Conflict's Ripple Effect on Global Trade: 2024 and Beyond
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Abstract
The Russia-Ukraine conflict has escalated into a significant geopolitical and humanitarian crisis, profoundly impacting global trade and economic stability in 2024 and beyond. The war has exacerbated existing global challenges, including inflation, debt crises, and supply chain vulnerabilities, while fueling a rise in poverty and economic uncertainty. Key global economic channels—such as commodity markets, financial systems, trade networks, and migration flows—have experienced disruptions, triggering widespread ripple effects. This research aims to examine the multidimensional impacts of the conflict on global trade and economic realignments. It draws on reports from international organizations such as the OECD, WTO, World Bank, UN, IMF, and UNCTAD, providing a comprehensive analysis of financial sanctions, surging commodity prices, and fractured supply chains as primary transmission channels of economic shockwaves. By exploring the long-term implications of the Russia-Ukraine war, this research contributes to policy discussions on fostering resilience in global trade systems. It underscores the urgent need for coordinated global responses and adaptable strategies to navigate the evolving economic landscape. The findings highlight the importance of rethinking trade governance to achieve stability and economic inclusivity in an increasingly fragmented world.
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