The Russia-Ukraine conflict poses threat to the global economic system
Mian Zahid Hussain Former Provincial Minister Mian Zahid Hussain, chairman of the National Business Group Pakistan, president of the Pakistan Businessmen and Intellectuals Forum and Karachi Industrial Alliance, and former provincial minister, has said that the war between Russia and Ukraine poses a major threat to the Western-controlled global economic system.
Has been Russia and its key allies are developing new rules for international trade.
The shadows of hunger are hovering over the world. The world can be divided into two blocks, the free market economy and the controlled economy, which will create new challenges.
Talking to the business community, Mian Zahid Hussain said that the steps were taken by former US President Trump, Britain's withdrawal from the European Union, and the outbreak of Coronavirus had shaken the foundations of globalization and now key countries are nailing the last nail in its coffin.
This will make the dollar monopoly, which has been going on for 78 years, difficult.
Mian Zahid Hussain said that before imposing the toughest sanctions on Russia, Western countries had targeted Iran, Cuba, North Korea, and other small countries whose economic losses were tolerable but now a big country has been targeted.
Which supplies the West with 24% oil and 80% gas and is producing unpredictable results.
Western nations have imposed sanctions on Russia, but they should know that if the losses of the countries affected by the sanctions are not remedied, they will ignore the sanctions and put their own interests first. Give full support to the countries to get them out of the current crisis.
Mian Zahid Hussain further said that NATO countries have failed to secure Europe which has damaged their credibility while the visit of the Chinese Foreign Minister to Afghanistan is of utmost importance in the rapidly changing global situation. Afghanistan's participation is welcome.
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