Why chaos in Russia could spell trouble for the global economy
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GUEST – Isaah Mhlanga - RMB chief economist
After the pandemic and war in Ukraine, and the inflation shock that followed, the global economy is in a precarious state. The last thing it needs right now is another nasty surprise. That’s what it nearly got at the weekend as disaffected Russian mercenaries marched toward Moscow, drawing a stark warning from President Vladimir Putin that the country was on the brink of a 1917-style “civil war.” The armed insurrection has been defused — for now — but the most serious challenge to Putin’s authority in 23 years could still usher in a period of turmoil and change.
After the pandemic and war in Ukraine, and the inflation shock that followed, the global economy is in a precarious state. The last thing it needs right now is another nasty surprise. That’s what it nearly got at the weekend as disaffected Russian mercenaries marched toward Moscow, drawing a stark warning from President Vladimir Putin that the country was on the brink of a 1917-style “civil war.” The armed insurrection has been defused — for now — but the most serious challenge to Putin’s authority in 23 years could still usher in a period of turmoil and change.
