Russia-Ukraine conflict raises big risks for global economy
By PAUL WISEMAN and DAVID McHUGH
AP Business Writers
WASHINGTON (AP) — Just what a vulnerable world economy didn’t need — a conflict that accelerates inflation, rattles markets and portends trouble for everyone from European consumers to indebted Chinese developers and families in Africa that are enduring soaring food prices. Russia’s attack on Ukraine and retaliatory sanctions from the West may not portend another global recession. Yet the conflict is threatening to inflict severe economic damage for some countries and industries — damage that could mean hardships for the millions of people. Any escalation of the crisis could derail Europe’s economic recovery by sending already elevated energy prices ever higher.
