The United States is an empire in decline and calls for a generational change in politics. Now, the economic and energy crisis due to the impact and consequences of the pandemic, the war in Ukraine and the sanctions against Russia are not only affecting the US economy, but also the global economy. But where it is most affected are the economies of Europe, Africa, Latin America and, to a large extent, the Asian economy. Great Britain with inflation of 9.1%, Germany 7.9%, Spain 10.2%, Italy 8.0%. France is the European powerhouse with the lowest inflation rate at 5.8%.
It is clear that the sanctions against Russia, rather than causing the collapse of the Russian economy and the downfall of President Vladimir Putin, as the Biden administration and its allies predicted, have so far not produced the desired results. Conversely, the powers of government leaders in the United States and Europe have begun to erode. Conversely, Putin is reaping handsome financial dividends from high oil, gas and other commodity prices, and his currency is strengthening. Meanwhile, other currencies such as the euro are plummeting.
The first to suffer the effects of the war on domestic politics was the president of France, Emmanuel Macron, with the loss of his majority in parliament. The second to see firsthand the effects of the war is the Biden administration.
On the one hand, in foreign policy it managed to unite Europe around the imperialist rivalries in Europe and Central Asia against Russia, and it reaps geopolitical and economic benefits by expanding NATO’s sphere of influence towards Russia’s strategic security zone and by the rearmament of Europe and removal of part of the control of the European energy market. On the other hand, domestically, he is not doing well because of the effects of inflation on Americans’ pockets, which has his administration reeling and having trouble holding on to a majority in Congress in November’s elections.
The third person who suffered the consequences of the war is the Prime Minister of England, Boris Johnson, who resigned. The fourth, next on the list, is the Prime Minister of Italy, Mario Draghi, who also had to submit his resignation.
Others still on the wavering list are German Chancellor Olaf Scholz and Spanish Prime Minister Pedro Sanchez, whose policies and economic measures surrounding the war are causing frantic economic crises in their respective countries.
