The World Bank estimates that, globally, disasters caused by natural hazards cost an annual $520 billion in consumption loss – human and economic losses. That's 60 percent larger than the asset losses that are commonly reported. For the business world, disasters matter for a string of reasons.
To explain Australian economy is suffering and in turn trades less with the UK, so there are so many factors affecting the recession and to just blame Russia is unfair.
Germany also occupied many work sectors for very long time with no consideration for other countries, their sudden downfall doesn't erase for some the view that Germany isn't a favourable trade partner for future and has a lot of work to do to fix this broken image for countries who battled all these years.
But mostly the UK is pointing fire at Russia without considering what causes had impact on economic downturn. Saudi Arabia was flooded, and suddenly their economy dropped.
It is foolish to think bombing Russia is going to fix this.
https://www.abs.gov.au/statistics/resea ... an-economy
The above link gives overview of Australia as an example without political issues such as USA. It outlines impact on families, losses and consumer market. From this report it can identify how much of recession is due to various other factors.
Yesterday, 2:47 pm
