[quote DownNative]@Blossomtoes said:
"Other countries don’t seem to be inflicting the same economic damage on their citizens. The French haven’t seen their energy bills double."
How many countries are there in the world?
Hint: a lot more than just the French!
If you want a dire situation economically, here's a BBC News report on Sri Lanka from 4 days ago:
Now, THATS a fuel crisis.
And this from 8 days ago:
And THAT'S a governmental crisis.
Other countries in Europe ARE experiencing very, very serious economic issues too, especially the four Eastern European economies of Poland, Czechia, Hungary and Slovakia, according to Oxford Economics.
"Russia's invasion of Ukraine is being felt throughout the global economy, but few places are as exposed to its impact as the Central and Eastern European (CEE) countries. In addition to surging energy prices, CEE economies will be hurt by renewed supply shortages in manufacturing, loss of access to Russian markets, currency depreciation, and the refugee crisis. As a result, we have cut our growth forecast by around 1ppt this year and 0.5ppt in 2023. But the situation remains very volatile, and given the CEE's exposure, the risks are tilted heavily to the downside."
Ukraine's economy will be halved due to the war which represents a loss of $600 billion.
Middle income countries such as Pakistan, Sri Lanka and Egypt have all had to negotiate financial help from the IMF.
According to the UNCTAD Division on Globalization and Development Strategies (United Nations), it is developing countries who will be bearing the brunt.
Not those of us in high income countries such as the UK, France, Germany, USA, etc.
"The brunt is being carried by the developing countriesbecause of the rise in prices of food, of energy and fertilisers that is very steep and also the financial stretch under which the developing countries are already under.
Butthe European Union will see a fairly significant downgrade in its growth performance this year…so will parts of central and southern Asiaas well."
So, it is far from true that other countries aren't experiencing very serious economic damage that's being felt by their citizens. EU countries still have more to come, including France and Germany.
We in the UK are still far more fortunate than many, many people in the world.[/quote]
I thought were an Asian nation so why the comparison to Sri Lanka which as far as I remember my geography is in the Indian Ocean.