A visitor looks at Tokyo’s night view during a “totally dark time” event, at Sunshine City’s Observatory in Tokyo, Japan, October 15, 2021. REUTERS/Kim Kyung-HoonBoris Yeltsin how the Russian economy was doing “in one word”. Yeltsin, then Russia’s president, replied: “good”. Major asked him to elaborate in two words. “Not good”, Yeltsin quipped.
Putin’s invasion of Ukraine has created an energy and food emergency. That is fuelling a global economic downturn. The 2020s could turn out to be a lost decade for many of the world’s economies. Debt distress and poverty will rise. Politics at home and abroad will get more poisonous.
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