Russia Ukraine War: Cost of war: Countries up defence spend to counter China as Russia-Ukraine episode tilts world order
Synopsis
China’s aggression in the Indo-Pacific has been a growing concern for many countries. China’s growing ties with Russia amid the latter’s war with Ukraine have made countries including India a worried lot. To counter the dragon, they are increasing defence spends even as their respective economies are yet to rebound to pre-pandemic levels.
The entire world is feeling the heat of the Russia-Ukraine war. From soaring costs of food commodities to volatile energy prices to large-scale supply-chain disruptions, Russia’s invasion of Ukraine has impacted countries in several ways. As geopolitical tensions continue to simmer amid the West’s sanctions on Russia, sparking inflation in food and fuel prices, India stands vulnerable. The country meets most of its energy needs through imports
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