Commentary
The West’s sweeping sanctions on Russia following its invasion of Ukraine are shaping up to be the West’s most monumental miscalculation in modern history. The sanctions haven’t brought the Russian economy to its knees, as was widely predicted. Instead, it’s the Western economies that are reeling, their economic growth all but stopped. Many of them are simultaneously suffering from the triple scourges of high inflation, energy shortages, and recession.
Russia, meanwhile, isn’t only surviving but thriving, acquiring more potency and prestige throughout Asia, Africa, and South America than at any time since the collapse of the Soviet Union….