Jeffrey Sachs: On why neutral countries should mediate between Russia and Ukraine
Professor Jeffrey Sachs wrote an article in the Economist
Neither russia nor Ukraine is likely to achieve a decisive military victory in their ongoing war: both sides have considerable room for deadly escalation. Ukraine and its Western allies have little chance of ousting Russia from Crimea and the Donbas region, while Russia has little chance of forcing Ukraine to surrender. As Joe Biden noted in October, the spiral of escalation marks the first direct threat of “nuclear Armageddon” since the Cuban missile crisis 60 years ago.
The rest of the world also suffers alongside, though not on the scale of the battlefield. Europe is probably in recession. Developing economies struggle with rising hunger and poverty. American armsmakers and big oil firms reap windfalls, even as the overall American economy worsens. The world endures heightened uncertainty, disrupted supply chains and dire risks of nuclear escalation.
Read the full article here.