Former deputy head of the WTO: the prolongation of the conflict in Ukraine will trigger a global crisis

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BEIJING, 2 sec. – RIA Novosti. Prolonging the conflict in Ukraine will inevitably aggravate global energy and food shortages and then trigger a global economic crisis no less than in 2008, former WTO deputy head and former deputy trade minister Yi Xiaozhun said on Friday.

“Currently, the world economy is already in a stagflation trend with high inflation, high debt, high interest rates and low growth,” Yi Xiaozhun said in a forum at the China International Trade in Services Fair.

According to him, “if the Russian-Ukrainian conflict widens and continues, it will inevitably worsen the shortage of energy resources and food in the world, and then cause a global economic crisis of no less scale than in 2008”.

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Алексей Гармаш
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