Europe’s Russian Energy Problem, Argentina’s IMF Problem and More

Pipes at the landfall facilities of the Nord Stream 2 gas pipeline in Lubmin, Germany, Feb. 15, 2022 (AP photo by Michael Sohn).
Pipes at the landfall facilities of the Nord Stream 2 gas pipeline in Lubmin, Germany, Feb. 15, 2022 (AP photo by Michael Sohn).
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Russia’s invasion of Ukraine has upended the foundations of Europe’s security order, but also its economic order. The sanctions imposed on Russia by the European Union and its Western partners suggest that an economic decoupling has begun. The implications of such a decoupling in the context of an integrated global economy are significant, but also murky and complex. Clearly, the war highlights a weakness in the logic that had long underpinned globalization as an economic but also a normative project: that economic interdependence among states would make the costs of conflict prohibitive. Longstanding dissatisfaction with China’s unfair trade practices, combined […]

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