The Russia-Ukrainian conflict; globalisation and its ramifications

Globalisation is a trend in which world economies have become increasingly interconnected, integrated, and interdependent. The war between Russia and Ukraine has been experienced first-hand across the world not because the Russian missiles have hit beyond the borders of Ukraine but because the effects of this war continue to be felt in every capital and by every citizen of the world.

The fear of this war was so much about the intentions of President Vladimir Putin of Russia in resetting the new world order. There was so much pandemonium across the Western capitals because the West, especially the US and much of Western Europe feared that Russia wanted to drag them into a third world war.

No matter the pleadings of President Volodymyr Zelensky, the actor-turned patriotic and nationalistic president of Ukraine, to enforce a no-fly zone, NATO and his supporters have returned a flat no, in order to avoid an escalation that could lead to an all-out global war.

Yet, however, this is the “Fourth World War”, a silent one at that, the ‘Third One’ having been the Covid-19 Pandemic, whose effects will be or are almost being felt by almost every citizen of the world. Russia is the third-largest producer of crude oil in the world and the second-largest producer of natural gas and supplies almost more than 45 percent of the gas needs of Western Europe.

As the sanctions imposed on Russia begin to bite, the entire world economy is feeling the pinch in the fuel prices they have now to pay because Russian crude oil cannot move easily into the global market, and the effect has been felt far and beyond. The economic sanctions will not only affect the Russian oligarchs but all the business associates they trade and conduct business with. The owner of Chelsea FC Abromovich has had to relinquish control over the club because his finances are sanctioned due to his association with the Kremlin. This has affected his business interests in the UK. The Chelsea players and fans may not see the immediate effects but we cannot be sure how they will be affected in the long run.

The interconnectedness associated with globalization and the interdependence of the economies has made the Russian-Ukrainian war almost a World War Three. From the streets of Lusaka Zambia to the Super Highways of Nairobi to the traffic-congested streets of Kampala, the emotions of motorists and anxiety raised at every petrol station due to the high pump prices, make you believe that this is a global war. The Matatu driver in Nairobi, the Tuktuk rider in Mombasa, the Okada rider in Nigeria, are all anxious, not just them, but also their families. The food prices are skyrocketing because of the fuel prices, parents are worried about whether they can still afford tuition for their children in school but also the daily transport cost keeps going upwards.

Therefore in a globalized world, Uganda cannot ignore what is happening in Ukraine, just like we cannot ignore the security situation in the Democratic Republic of Congo, Somalia, and or the Central African Republic. Smaller economies need to be more concerned about what is happening elsewhere than bigger economies, but alas the reverse is true. Smaller economies suffer more from the negative effects of globalization than bigger economies. The outbreak of Covid-19 is another World War that could not have been ignored. From a Chinese town food market, the Coronavirus spread far and wide impacting lives significantly.

Let’s all be concerned with what is happening around us, whether it is the war between Russia and Ukraine, a neighbor sleeping hungry, or a mother retiring late from a long and hard day’s work. In a globalized world, you cannot afford to ignore it. There is no luxury of not being bothered. It should bother you.

Dennis Nuwagaba, PhD is a senior lecturer in the Department of Marketing and International Business