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10 things (aside from gas) that will get more expensive during the Russian-Ukrainian war
Millions worldwide looked on in horror as Russia invaded Ukraine on Thursday, the most significant attack in Europe since World War II. The invasion has continued to grow, and there is no clear answer on how long the war will continue. Tap or click here to secure your tech and prepare for cyberattacks.
Wars have consequences. And not just to the people directly involved but also to the world around them. The global supply chain will be impacted following heavy sanctions imposed on Russia by the rest of the world.
The question becomes, how does the conflict affect Americans in the short term, and what can we expect months from now? Are there goods we can expect to disappear? What about natural resources? Read on to find out what to expect in the coming months.
The global supply chain
War disrupts the global supply chain in crucial ways. Imports and exports are a vital part of every country’s economy and play a significant role in feeding our population and manufacturing electronics and automobiles.
While the invasion of Ukraine will affect the EU the most, Americans can also expect significant consequences to make their way very soon. For example, Russia is the number one exporter of wheat globally, and Ukraine is fifth.
This means other major wheat exporters will have to make up the difference as countries worldwide slap sanctions on Russia and make importing their products impossible. As a global shortage of wheat occurs, products that utilize this grain, like bread, can expect a huge price jump.
The more sanctions imposed on Russia, the world will see more effects. Ultimately, the longer the conflict draws on, the more precarious the global supply chain.
The chip shortage
The chips placed inside computers have long faced a massive shortage that has caused a supply shortage of electronics. Everything from televisions to tablets has been impacted.
A major component of chips is a compound called Palladium, and you guessed it, Russia supplies a little less than half of the entire world’s supply. This means that the ability to manufacture more chips is greatly reduced the longer the conflict occurs and the more sanctions the U.S. places on Russia.
As listed above, we can expect an immediate and long-term effect on the availability of chips for electronic productions. But what exactly does that affect? Well first, computers.
Start saving up now: Laptop tech has been stagnant for years, but the times, they are a-changin’. Computer makers are using chips that allow laptops to run large-scale AI models directly on the device. You’ll get better performance, tighter security and less reliance on the cloud (paywall link) — but expect laptop prices to skyrocket.
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15,000 employees
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