[NB: check the byline as usual, thanks. /~Rayne] We’ve discussed in comments this past week the possibility Russia’s invasion of Ukraine will deeply affect the global wheat market. It’s already affected wheat futures pricing dramatically. But wheat futures are only the tip of the iceberg. We are looking at the unfolding of a world war […]
I’m sure Europe can adapt exactly the same way Russia can adapt. What I pointed out was that Russia was prepared for this situation while Europe was not. If you think that Europe can just magically replace 40% of its energy and much of its food import overnight, then I don’t really know what else to tell you. Meanwhile, China clearly demonstrates that centrally governed economies can in fact react to challenges quickly and efficiently.
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I’m sure Europe can adapt exactly the same way Russia can adapt. What I pointed out was that Russia was prepared for this situation while Europe was not. If you think that Europe can just magically replace 40% of its energy and much of its food import overnight, then I don’t really know what else to tell you. Meanwhile, China clearly demonstrates that centrally governed economies can in fact react to challenges quickly and efficiently.