A financial shock could be on the cards if there’s a “trade rupture” between Russia and Germany, warned S&P Global’s chief economist on Tuesday.
Gruenwald added:"We've got the energy complex, we've got commodity prices, we've got industrial inputs that Europe's importing, such as nickel and titanium and other things like that."
"If the Covid-19 pandemic highlighted a need to shorten supply chains, the war in Ukraine underscores the importance to have reliable trading partners," research director Peter Martin wrote in a Tuesday note. "That would feed through to ... lower GDP, lower employment, lower confidence — and then we would get a kind of a macro financial shock out of that. So that's the sort of scenario we're worried about that could move the needle," he warned.
Germany's imports from Russia rose considerably last year, rising 54.2% compared to 2020. Exports also rose but at a slower pace than imports – rising 15.4%.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Live Updates | Germany: Talks can't work until Russia stopsGermany's president has called on Russia’s leader Vladimir Putin to pull out his troops from Ukraine and stop the “barbarity” there
Leer más »
In the Long Term, China Will “Eclipse” Today’s Russia Crisis, U.S. Trade Czar Says'We can’t just sit around and wait for China to decide to change when it’s ready to,' says AmbassadorTai, whose talks with the country have become more complicated in the wake of Putin's invasion of Ukraine. 'We have to start doing things differently.'
Leer más »
Russia will launch a lunar probe and deepen space links with Belarus, Putin saysRussia will launch a lunar probe later this year and deepen cooperation with Belarus on space infrastructure and technology, Russian President Vladimir Putin said on Tuesday.
Leer más »
Sean Penn 'thinking about taking up arms against Russia'Actor SeanPenn says he is considering 'taking up arms' and fighting alongside Ukrainian forces against Russian invaders.
Leer más »
Putin vows to wage war until Russia claims victory as peace talks collapse'Its goals are absolutely clear and noble,' Putin said about the continued military invasion of Ukraine.
Leer más »