The Impact of the Russia-Ukraine Conflict on Global Geopolitics

The year 2022 has been marked by a spike in geopolitical challenges and risks, with the Russia-Ukraine conflict becoming a major disruptor of the existing order. The conflict, which erupted in February 2022, has led to one of the largest population shifts in modern times and has far-reaching consequences for the global political and economic landscape.

Anticipating the Conflict

While some experts had predicted that uncertainty and impermanence would dictate the course of world events in 2022, few could have foreseen the scale of the conflict between Russia and Ukraine. However, with hindsight, some of the developments leading up to the conflict could have been anticipated. By mid-2021, Russia had begun a major build-up around Ukraine, and in December 2021, Russia�s Ministry of Foreign Affairs published a list of new security guarantees it wanted from the U.S. and North Atlantic Treaty Organization (NATO), including a promise not to expand the alliance eastward.

What could not have been anticipated was the extraordinary display of Ukrainian nationalism and the swift response of the West, including NATO and the U.S., in rallying behind Ukraine and extending military and other types of cooperation. Even today, few experts are able to fully comprehend what all this presages or what lies in the future.

The Fallouts of the War

The conflict has had far-reaching consequences, both in terms of the escalation of the war and the economic fallouts. The risk of escalation both horizontally and vertically is present, with the use of nuclear weapons being a major concern. The opening of new fronts could also result in dangerous outcomes, with the specter of an all-out war ominously present.

The proxy war between the U.S., Europe, and NATO on one hand, and Russia on the other, is having a major fallout in the economic realm. The incessant imposition of sanctions by the West and its allies on Russia, the barring of Russian banks from SWIFT, and the freezing of Russian foreign assets have all provoked an energy crisis. This is accompanied by the soaring prices of oil, with Russia using oil as a weapon. The full extent of this is yet to be properly understood, but what it does portend is the possibility of a wider conflagration.

The ripple effects of the recent developments in Europe are also evident, with some of this occurring well beyond European shores. China-Russia relations, in particular, are a case in point. China has chosen this time to deepen its strategic ties with Russia, with both countries stating that their "relations are enjoying the best period in their history." Furthermore, in light of the heightened concerns of the West over Taiwan, newer alignments are becoming evident across Asia.

Increase in Defence Spending

As 2023 has dawned, and the arc of instability increases, what is also becoming evident is a massive increase in defence spending by almost every country, notwithstanding the economic stress they all confront. Estimated spending on defence across the globe is understood to have crossed $2 trillion in 2022, and is expected to increase substantially in 2023. European countries, such as Germany and France, have announced substantial increases in defence spending. Japan has already declared that it would raise its defence budget to 2% of its GDP, in view of the threats posed by China and North Korea. India, one of the world�s leaders in defence spending, can be expected to follow suit.

Increased defence budgets are threatening to alter the nature of defence relationships and, in turn, what is propounded as strategic autonomy. New strategic alignments are likely to emerge, and the nature of global power dynamics is likely to change as a result. It remains to be seen how these changes will play out in the long term, but it is clear that the Russia-Ukraine conflict has had a significant impact on global geopolitics.

Synopsis

Russia-Ukraine conflict has far-reaching consequences for the global political and economic landscape, with the potential for escalation and the emergence of new strategic alignments being major concerns. The war has also led to a significant increase in defence spending, with the nature of defence relationships and global power dynamics likely to change as a result. As the world continues to navigate the uncertain political landscape, it is important to heed the lessons of the past and anticipate the potential outcomes of current events.

Written by IAS POINT

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