With the Ukraine war closing in on the 70th day, the global economy is decidedly in worse shape than it was before Russia decided to invade its neighbor to the west. According to the World Trade Organization, Russia’s war in Ukraine has created “immense human suffering,” with WTO economists having downgraded their expectations for 2022 trade volume growth from 4.7% to 3%. A ban on Russian gas is expected to plunge Europe into a recession, with the EU currently mulling a total ban on Russian energy imports. As expected, Ukraine…
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