Russia/Ukraine Crisis and Its Impact on the International Economic Order

 

There is no doubt that the Russia-Ukraine crisis has an impact on the international economy. The chatter of higher oil and food prices, the impact of sanctions, and of winners and losers in this unfolding war, has drawn the economists out to paint their descriptions and predictions. Indeed, the IMF forecast for the global economy has been downgraded. But what of the long-term impact in the development of the international economic order (IEO)?