The Global Arms Race Is on and Stronger Than Ever

By Jason Simpkins / September 19, 2023 / www.outsiderclub.com / Article Link

There's no question that economic sanctions have had an impact on Russia.

Economic growth is anemic there and inflation is a persistent problem even as it cools elsewhere in the world registering double-digit increases despite a central bank interest rate of 13%.

Still, to its credit, Russia has found enough workarounds to keep things growing.

Vladimir Putin's meeting with Kim Jong Un is an act of desperation for sure.

But it's also a reminder that there's a quiet alliance of bad actors in the world one that includes China, Iran, and Belarus as well as unsavory middlemen like the UAE who are willing to help Russia skirt sanctions if it means enriching themselves.

Russia also dipped out of a grain deal that was safeguarding Ukrainian wheat exports. And it's been bombing Ukrainian ports and targeting commercial ships in the Black Sea.

As a result, Ukraine's wheat exports have tumbled by 40%, while Russia is set to export 49 million tonnes of wheat this year, a nearly 50% increase from pre-invasion levels.

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