The economic war between the blocs is gaining momentum in support of Ukraine
The effect of the divisions caused by the war in Ukraine has become visible in trade data, as geopolitical blocs have done significantly less business with each other since the start of 2022. A World Trade Organization report found that both trade between and within the blocs had been affected by the sanctions, and blockades following the Russian invasion had hampered trade flows.
Taking January 2022 as the starting point for calculating the index, the World Trade Report 2023 shows that global trade between geopolitical blocs, such as Western Bloc countries in America and Europe and...