Policymakers in the US and abroad are struggling to contain the ripple effects of Russia’s invasion of Ukraine, while also fighting against what remains of the COVID-19 pandemic and its economic consequences, i.e. inflation and supply chain issues. With environmental challenges also threatening mankind’s future, and entire regions in the US and around the world now witnessing “severe” drought, it remains to be seen if global experts and politicians can team up to create effective solutions for these problems, and provide their citizens with peace and economic stability by the end of 2022.
Containing the effects of Russia’s war in Ukraine is by no means an easy task, and it can become increasingly harder as the conflict continues. Although Vladimir Putin’s army invaded its neighboring country of Ukraine in late February, there is no sign of Russian de-escalation yet. However, according to the Institute for the Study of War, Russian forces could now be on an operational pause as neither Russia nor Ukraine reported advances recently. Even though this pause status points to uncertainty, it can be used by policymakers to think about the global challenges fueled by the war in Ukraine, and to create strategies to solve these issues.
Soaring Inflation in the US and EU
Both the European Union (EU) and the US are now dealing with soaring inflation rates, and there’s no relief in sight as long as the conflict continues. The annual inflation rate in the Euro zone is expected to reach 8.6% this June—up from 8.1% in May—while US inflation hit 9.1% in the same month. According to President Joe Biden, this number is undesirably high, not to mention out-of-date. While the President suggests that this issue has become a global problem, affecting most countries around the world, he also says it is undoubtedly the most pressing economic challenge for Americans.
“It is little comfort to Americans to know that inflation is also high in Europe, and higher in many countries there than in America. But it is a reminder that all major economies are battling this COVID-related challenge, made worse by Putin’s unconscionable aggression,” said President Biden as he assured Americans that inflation remains his top priority.
The Export of Wheat and Other Grains
Russia is one of the largest oil and natural gas producers in the world, and Ukraine is a major exporter of wheat, corn, and sunflower oil. These two countries account for nearly a third of the world’s wheat supplies according to The New York Times. Russia’s invasion prevented Ukraine from exporting its grains, and with numerous countries relying on these exports, this issue rapidly snowballed into a global problem.
The good news is that Russia, Ukraine, Turkey, and the United Nations (UN) are currently working on a deal that could solve this dilemma and allow Ukraine to continue its grain exports via the Black Sea. However, according to Reuters, UN Chief Antonio Guterres does not see the deal as an excessively positive sign, saying there is “a long way to go” before serious peace talks could finally put an end to the conflict.
New Environment Challenges
The pandemic has been on everyone’s mind during these past two years, so it’s no surprise that little has been done to stop global warming. Moreover, after Russia decided to invade Ukraine, environmental challenges were sent to the back burner again. However, with several issues now making headlines all over the world, the climate crisis has become more important than ever. According to The Guardian, China recently issued its third heat warning in recent months, and European countries like Spain, Portugal, France, and Croatia are now battling wildfires provoked by extreme heat conditions.
These concerns are prevalent in the US too, where at least 10 heat records have been broken across the Southwest and central USA this summer. Maybe even more concerning is the fact that some regions have even witnessed record temperatures recently—with Oklahoma reporting a record temperature peak of 105 degrees Fahrenheit.
Solving These Global Challenges
According to President Biden, world leaders should unite to combat the climate crisis as Russia’s war in Ukraine continues to highlight the world’s dependence on fossil fuels. With soaring inflation rates and various problems related to grain exports now plaguing the world, policymakers need to prepare good strategies to solve these issues and assure lasting effects that can guarantee a better future for people everywhere.
