MSNBC Seeks Rebranding

 

MSNBC will change its name in an effort to rebrand the cable news channel. The new name of the channel will be called MS NOW. This stands for my source, news, opinion, and world. MSNBC has been struggling with ratings over the past few years. The failure to adapt is the primary reason. Many viewers are going to alternative or independent media sources. Social media, websites, and video sharing platforms are now major sources of news. The rebranding will not be effective unless changes are made. Corporate media seeks to uphold a certain narrative, which does not present political or social realities. Media bias can be present in any source, but MSNBC was more blatant with its coverage. the channel favors a political centrist and corporate Democrat perspective. The majority of the audience it appeals to is the baby boomer demographic. That generation does not represent the majority of the public. The channel focuses too much on domestic news, while international affairs are ignored. Biased reporting related to Israel and Ukraine becomes more obvious as conditions change rapidly. To an extent coverage of the Trump administration keeps the channel going. Other cable news networks have followed this model and it is not sustainable. The failure to update to the new era of digital media demonstrates how out of touch cable news channels are. Renaming the channel seems like they want viewers to think they are getting something different. Many viewers see MSNBC as an official press organization for the Democratic Party. Considering viewers want actual information and not political party press releases, ratings declined. The MS NOW transformation is not enough to fix the cable news network. 

Warren Buffet Announces Retirement

 

Warren Buffet is set to go into retirement at the end of 2025. Buffet for years has been the CEO of  Berkshire Hathaway. Greg Abel is said to be the successor to Warren Buffet's leadership. It was in 1965 that Warren Buffet took a failing textile mill and transformed it into a conglomerate. Warren Buffet owns $160 billion in Berkshire stock and at the moment the largest shareholder of the company's stock. Buffet has not intention of selling those shares. Warren Buffet has been presented to the public as a humanitarian philanthropist. This carefully crafted image from the media and public relations distorts the reality. Warren Buffet represents the obscene wealth and decadence of the upper class elite. Acts of philanthropy by Buffet are nothing more than a marketing measure. As the capitalist system continues to fail the average worker, billionaires are viewed in a more negative light. Warren Buffet  attempted to soften the image of avarice with charity. Philanthropic actions do not challenge the economic system or the billionaires who control government. Warren Buffet's image as humanitarian philanthropic billionaire was created in the 2010s. Speculation over his retirement still persists. Age could be a factor seeing as Warren Buffet is 94 years old. Health and energy become concerns. Another plausible reason is that Buffet seeks retirement before a possible economic crash or recession. The world economy was damaged by Covid-19, corporate price gouging, supply chain issues, and the new set of tariffs being imposed by the United States. Growing public resentment could be making CEOs consider retirement. At the end of 2025 the Warren Buffet era of Berkshire will be over. Buffet's influence is not going away. Warren Buffet donates funds to the Bill and Melinda Gates Foundation and his children run the Susan Thompson Buffet Foundation. Buffet could still be serving Berkshire is some capacity, just not as CEO. 

The Professional job Recession

 

Economists have noted there is a decline  related to industries such a tech, consulting, and finance. Various corporation across numerous industries are doing layoffs. The traditional office job could be experiencing what occurred with manufacturing. The common description of this is white collar recession. To be precise, it is a professional job recession. The common term is misleading, because it claims to be only happening in certain occupations. Workers with higher education and multiple skills are still subject to the exploitation of a capitalist system. Education and working for a particular company was claimed to protect workers from layoffs or job loss. Since 2022, layoffs have increased in the white collar classified jobs. Searching for positions has become more difficult or companies slowdown hiring. Those who remain employed are doing more work for less pay. What the global economy is experiencing looks closer to the 2008 financial meltdown. The professional worker class is not protected. Blue collar work was subject to disruptions in the economy. White collar work was shielded to an extent. The professional worker is getting closer to the conditions faced by the working class on a regular basis. The reason most cannot recognize the exploitation of the professional class was related to job benefits. Paid vacations, healthcare, and possible promotion were common benefits corporations offered. Overtime, such benefits were either reduced or disappeared. The professional managerial class and business elite can exploit the workforce to their benefit. The professional job recession will be exacerbated by more supply side economic policies, automation, and outsourcing.  

Billionaire Isabel Dos Santos And The Questions Around Her Assets

 

Isabel Dos Santos has been described as "Africa's richest woman." Questions remains about how she generated her wealth and how assets were acquired. The UK has frozen some of her assets, but she has stated her innocence related to criminal activity. Isabel being the daughter of the former Angolan president did have certain advantages. Isabel had investments in numerous banks and one telecommunications firm. President Jose Edurado dos Santos  made her head of Sonangol. This is an important oil firm in Angola. Isabel Dos Santos was removed by the new administration in 2017. Isabel Dos Santos was charged with embezzlement and money laundering by Angolan courts. There is indication that some of these assets were gained through illegal means and a system of nepotism. The  heaight of her fortune was around 2013 to 2015. Isabel Dos Santos has lost some wealth and according to Forbes rankings was removed from their list in 2021. Based on their sources her net work was $1.4 billion in 2020. The asset freezes probably did not make much on an impact. This does not account for hidden funds. Isable Dos Santos is considering running for president of Angola. The intention could be to use the office to enrich herself and reestablish Santos influence in government. The average Angolan does not see a dramatic increase in income, but Isabel used family and government connections to become a billionaire. The MPLA used to support socialism and Marxist-Leninist ideology. The ironic situation is that a billionaire could possibly run for president of Angola. Angola has gone though a similar transformation that China did after the end of Maoism. Isabel Dos Santos is a product of this economic shift.  

The Hasbro Layoffs

 

Toy companies are a large part of business. Children and adults are consumers of various toys and games. Adults are getting collectors items and children wants toys for general play. Hasbro did layoffs in 2023 which was an estimated 20% of the workforce. A total of 1,100 workers were left unemployed. The reason for this was the decline in sales. A total of 800 jobs were cut in 2023. This was a significant spike. Sales were doing better during the pandemic. Children were not in school and spending more time at home. Parents purchased more toys to keep children occupied. When the lockdowns were over, the purchase of Hasbro products decreased. The layoffs are expected to continue into 2025. Decline in sales cannot solely be blamed for layoffs. The CEO and management never offer to take pay cuts to retain employees. The reduction in workforce means those remaining will have to be more productive. There is no promise of an increase in pay. Layoffs are not an indication of a strong economy. Despite what politicians state, the data shows possible economic downturn. Hasbro, like other companies is experiencing the challenge of inflation. The rise in cost related to materials is going to increase prices of toys. Waves of layoffs are going to continue. Hasbro might not survive under these conditions. Hasbro did not make significant financial gains from lending its intellectual property to film. The only solution is to create better products or explore possibilities of electronic entertainment. CEO Chris Cocks is going to have to make adjustments and find a way to retain employees. Otherwise Hasbro will have to be sold or cease operations. 

Veoh Will Cease Operation

 

Veoh will end its operations in November. The video sharing website was another alternative to users who did not want to use Youtube. Options are becoming limited as it appears video sharing transforms into a monopoly. Those who have Veoh accounts will not lose their uploaded videos. The owner of Veoh known as FC2 inc.  will transfer accounts to its host portal website. Users can opt to not have accounts and data transferred. Veoh launched around 2005, the same year as Youtube. The question remains why did it fail to be a formidable competitor. Certain business decisions, disputes over copyright, and marketing are possible factors. Users are least not likely to try a video sharing service they are unfamiliar with. When Google purchased Youtube, the company got an advantage. Algorithms could be adjusted to feature Youtube at the top of the search engine list. Veoh was accused of copyright violations related to music and various videos. The copyright cases ruled in Veoh's favor that they were taking required steps to stop copyright violations. When it came to marketing, Veoh was not as recognizable. More people would have knowledge about other platforms than Veoh. Attempts to attract content creators were limited. Poor choices related to business resulted in layoffs and filing chapter 7 bankruptcy in 2010. The venture capital arrangements were not utilized to a degree that made the company secure. Veoh could have rivaled Realplayer. The problem was the Veoh Player was prone to glitches and was not that innovative. Although Veoh will no longer exist, its contributions to early video sharing cannot be underestimated. Video sharing has become a major part of the tech industry.  

The Attempts To Ban Tik Tok

 

Governments are attempting to ban Tik Tok . The popular social media platform has been accused of disinformation and being a national security risk. These claims are being made based on anti-China sentiment. A number of countries are attempting to ban the application based on a xenophobic nationalism. The European Union has made a ban on Tik Tok to apply to staff devices. This applies to the European Parliament, European Commission, and and EU Council. The measure is unnecessary considering the only application that should be used in offices are for work , not entertainment. France, Canada, Belgium, Pakistan, Nepal, and Australia have adopted similar policies. The US motivation for the ban is because it does not want Chinese competition in the technology sector and wants censorship. Video sharing applications expose concerns that are not discussed by the mainstream media or government. While it is used mostly for frivolous purposes, videos show abuses. Israel's human rights violations and war crimes in Gaza have been exposed on various platforms. The Tik Tok ban is a test to introduce censorship on multiple platforms. The public would never accept this, so false justifications are made. Disinformation, preventing public disturbance, and national security are the common arguments. Intelligence agencies and law enforcement have a good amount of resources to deal with matters of espionage. This is not about protect, rather undermining press and free speech. Afghanistan also imposed a ban on Tik Tok on the basis it was protecting the youth. Governments both authoritarian and democratic want to prevent the public from having independent thought. More social media platforms and video sharing sites could be a target of censorship.     

The Influence of Jacob Rothschild

 

The founder of RIT Capital Management  Jacob Rothschild passed away at age 87. Part of the prominent banking family that has influenced governments for centuries, the press presented him as a humanitarian philanthropist. The billionaire class only performs charity for the sake of tax cuts. Most of the time funds are given to influence politics or business practices on their behalf. Jacob Rothschild was an advocate for Israel and financed many projects in the country. While Israel pushes forward in plans of annexation of Arab lands, the Zionist state has a powerful backer. Jacob Rothschild explained in an interview that the Zionist movement started in Eastern Europe. His family played a major role in the establishment of Israel. The Balfour Declaration was the basis for the establishment of a future Zionist state in West Asia. This explains why Jacob Rothschild for most of his life invested in Israel. This was not about Jewish identity or culture. The support for Israel was a financial project. The country survives by being backed by the West and a upper class elite. Now that Jacob Rothschild is no longer living, legal challenges are emerging among his family members for control of his investments and estate. Hannah  Rothschild might end up getting most of Jacob's assets. The daughter of the billionaire also is the chair of the Israeli organization Yad Hanadiv. This demonstrates how British imperialism never left West Asia. Hannah and her late father are citizens of the UK, but their wealth has immense influence in Israel. The degree in which Jacob Rothschild was influencing the UK's policy related to the Middle East remains a mystery.   

Javier Milei's Economic Plans For Argentina

 

Javier Milei has been elected president of Argentina. What distinguishes him from other politicians is his right-libertarianism. The ideology does share ideas with other conservative political movements. The emphasis on free markets and capitalism are positions of common thought. Limited regulation and the emphasis on laissez-faire are what both ideologies desire. Milei's agenda is to end Argentina's central bank and put the country through a process of dollarization. Central banking as been a concern, but if a leader is serious about challenging that system it would invest in cryptocurrency. The dollar is losing its power as countries in BRICS want to move away from it. A rational policy would be to trade natural resources in Argentine pesos. Supply side economics will not generate prosperity in Argentina. The Austrian school of economics has a limited scope in a rapidly changing world. Javier Milei also expressed that he does not want Argentina to have economic relations with communist or socialist countries. North Korea, China, Venezuela, and Cuba were the countries he mentioned. Although Javier Milei is an economist, none of the anarcho-capitalist concepts can work. The nature of employment, trade, and  global economic centers are undergoing a revolution. Neoliberal capitalism might implode implode upon itself if government did not intervene. At some point no amount of reforms and regulations can fix a system that is corrupt by its function. Argentina will become a testing ground for the limits of right-libertarianism and the neoliberal capitalist system. 

Thaksin Shinawatra Returns To Thailand

 

The former prime minister has returned to Thailand. Thaksin Shinawatra has been in exile since the 2006 coup. Shortly after his arrival he was sent to prison. Reports now state that Thaksin suffered a medical emergency that required hospitalization. He faces charges of corruption, which Thaksin insists are politically motivated. The question remains how legitimate are the charges if they were made by a military government. Rumors have circulated that the former prime minister reach an agreement with the military establishment. The option available to him would be to seek a royal pardon. Thaksin does still have some political influence and imprisonment could have implications in future elections. The military  backed parties can always do a coup by stealth. Thaksin's businesses have been subject to scrutiny. The Advance Info Service contracts connection to the military indicated a monopoly run solely by the Shinawatra family. Telecommunications were not his only business ventures. Not all of his companies were successful, but the one that survived made him wealthy. The major crime he is accused of his hiding his assets. This indictment was made by the National Counter Corruption Commission. Thaksin Shinawatra  demonstrates that wealth has a negative effect on democratic institutions. His return does indicate a shift in Thailand's political atmosphere. However, many still remain in exile due to the military.   

The SAG-AFTRA and WGA Labor Strike

 

Economic inequality and shrinking income is hitting all sectors of the economy. Corporate avarice has induced a simultaneous Writers Guild of America and Screen Actors Guild American Federation of Television and Radio Artists strike. The writers and actors are not seeing an increase income, when production companies are generating billions. Considering that streaming services are doing well, there is no reason why income should not increase. This is not the first time writers went on strike. The 2007 strike resulted in some Tv programs falling behind in production. The longer this continues films, TV programs, and radio productions could grind to a halt. The only logical solution is to reach an agreement. Labor unions lost much power over the decades. The problem is that many labor unions across various industries or occupations do not have solidarity. A mass strike across the nation in various sectors has the potential to finally challenge the abuses of corporate power. What prevents this is  class division among the workers. The actors and writers would not be traditionally considered working class like miners or railroad workers. Labor unions for law enforcement are designed to act as a protector for corruption and police brutality. The Teachers Union most likely would not come to the aid of a railroad strike. The limitation of  labor strikes in  America relates to the lack of political and class consciousness. The protestors just want some reforms, rather than revolution. It might take a revolution to stop the abuse of corporations and to improve the status of employees.  It was 1980 went actors went on strike against the film and television industry. The only time writers and actors were on strike concurrently was in 1960. What should be learned is from these events is that both the WGA and SAG-AFTRA should collaborate. Doing so allows them to put more pressure on companies to reach a suitable agreement. Labor strikes are going to be more common as long as corporations continue exploit their workers.   

Argentina's Economic Crisis

 

Argentina faces economic hardship. The country appears to be seeing a form of hyperinflation. The Argentine peso is losing value. This explains why some might exchange their pesos for US dollars instead. The government has in response limited the number of dollars citizens can by at the current exchange rate. Politicians pretend that the recent development was some random act, but there ahs been a pattern of economic instability. The 2001 crisis proved that it was a combination of institutional failures, deposit freeze, and a default on public debt trigged economic turmoil. IMF policies have not secured the economy of Argentina. Just like in 2001, the new economic downturn will generate more poverty. People who were financially secure will see themselves impoverished. Many were not able to recover their deposits from the 2001 crisis. The Argentine public has grown even more suspicious of the banking system and government. The fear of the devaluation of the peso is present. There is also an indication that Argentina lacks hard currency and is not taking in more money. The crisis has made it more difficult for business to operate. Without specific costs known, running an establishment is not possible. Inflation will harm or eradicate small business, before bigger corporations. Argentina plans to accept an IMF $ 3.9 billion deal. IMF agreements have never solved Argentina's economic concerns and the new deal has limited chance of success. The economic crisis has gotten so severe that President Alberto Fernandez will not seek another term. Argentina's crisis is a warning to the global economy and the fragile nature of the banking system.       

The Status of FTX

 

The FTX scandal is not over. Further fallout is happening with the crypto exchange business. FTX has recovered a total of $7.3 billion. Former CEO Sam Bankman-Fried faces multiple charges and insists his innocence. Current CEO John Ray stated the major problem under Bankman-Fried was poor accounting and improper fund transfers. The rescue plan with Binance did not come through. Simultaneously, traders removed a total of $6 billion from FTX. That development forced the crypto exchange to file for bankruptcy. At the moment, FTX appears to be in disarray. FTX might be resurrected in some form. Customers and investors might not be so trusting of the new FTX brand. Due to the bankruptcy case, customers cannot get access to their deposits. Japanese customers can get to their deposits, because there are more regulations for cryptocurrency.  A relaunch would require a significant capital investment. FTX has an obligation to repay all its customers effected by the scandal. The FTX scandal reveals that there is a need for more regulation for crypto exchange. Otherwise fraud will become prevalent. Cryptocurrency was suppose to be a means of challenging the private central banking system. This form of currency is struggling to be widely accepted. The FTX scandal has caused skepticism about cryptocurrency. FTX intends to implement a Chapter 11 plan. Under this law of the Bankruptcy Code  a company must reorganize and pay creditors overtime. The process has not yet been approved. Criminal investigations are ongoing related to fraud. FTX might not be revived with a combination of criminal charges and financial instability.  

Europe Has The Highest Amount of Alcohol Consumption

 

The World Health Organization earlier this year reported that there is no safe amount of alcohol consumption. This could have serious implications related to public health. Europe consumes the highest amount of alcohol in the world. The data from the WHO states that the average European consumes about 9.5 litres. The demographic analysis started at ages 15 and up. The overconsumption of alcohol can have negative health outcomes. Recently, the WHO has called attention to the link with certain cancers. The throat, mouth, esophagus, and breasts could be vulnerable to cancer due to overconsumption of alcohol. The European health report noted that total alcohol consumption decreased between 2000 and 2019. The data also revealed that men tend to drink more than women. The largest sex related gap can be seen in Spain and Portugal. The countries with the highest amount of consumption included the Czech Republic, Germany, Latvia, Moldova, Lithuania, Ireland, Spain, Bulgaria, Luxembourg, and Romania( all were measured in per capita ). The lowest age demographic for consumption was between the ages 15 to 24. The report noticed as people got older the more alcohol consumption increased. No reason was provided about this connection with age and amount of  drinking. The reason some might drink heavily is due to stress or episodes of depression. Seeing as this is being done in advanced age, it could strain  the healthcare system. The potential public health crisis will be more gradual. The only means of stopping this is updating labelling. The full lists of the potential risks should be made public. The WHO estimates 1,000,000 perished from alcohol related  health issues. The data was only from the countries of the Europe. Union. Providing knowledge to the public can be a  a preemptive measure to prevent a major  health crisis.  The WHO declaration was too slow in coming to the conclusion about amount of  safe alcohol consumption. Updating warning labels and encouraging people to reduce their drinking are useful solutions.       

The Collapse of Silicon Valley Bank

 

The collapse of Silicon Valley Bank represents a negative turn in the economy. One of the top US banks had its assets confiscated by regulators. These actions and bank failures seem very familiar to the 2008 global financial crisis. The collapse of  Silicon Valley Bank is one of the biggest bank failures in US history. The bank mostly provided services to workers in tech and and start-up companies. Some longtime tech companies also had investments in the bank. The assertion that this was just one case and should not be deemed disturbing is misguided. The banking sector is becoming unstable under the lack of regulation and mismanagement. The assets of Silicon Valley Bank are being transferred to  a newly created institution. The Deposit Insurance Bank of Santa Clara will pay for insured deposits. SVB had an estimated $209 billion in assets. The violation according to the FDIC was that accounts exceeded the $250,000 limit. The technology sector will be negatively impacted by the collapse of SVB. A combination of CEO avarice and layoffs have made the situation worse. Simultaneously, the Federal Reserve has failed to counter inflation. The Silicon Valley Bank has been active since 1983, but after 39 years it could not survive. The government has made a promise to ensure that depositors would get their money back. SVB demonstrates a combination of corruption and the hardship that start-up companies face. Large corporations can survive and new businesses are at a disadvantage.  

Indicators of A Recession

 

There are indications that the economy could be heading for recession. High inflation and increasing interest rates are having an impact on economic growth. The stock market should not be an indicator of economic health. This represents a small portion of the population, not  the combined microeconomic and macroeconomic dynamics. Companies are cutting advertising,  cutting back on hiring, or eliminating jobs. This is not a sign of a functional economy. The economy is heading to recession, yet there is denial among economists and politicians. The definition of recession is the decline in economic activity and the reduction of growth. The result of this is unemployment, reduced profits from corporations,  and limited investment. Output comes to a halt due to these obstacles. The indicators have gradually been exposing themselves to the public. The COVID-19 pandemic, the supply chain disruption, and sanctions on Russia have contributed to this economic condition. Attempts to redefine the attributes of a recession are not going to change the economic forecast. This was not some random occurrence. The coming recession was a product of policy. Certain measures must be put in place to prevent another possible global economic meltdown.  

Uganda Discovers An Estimated $12 Trillion Worth of Gold Deposits

 

Uganda has the potential to be one of Africa's richest nations. Gold deposits worth $ 12 trillion have been discovered. Combined with oil Uganda is in a position to see impressive economic growth in the coming  years. What should be done with the new found wealth is that it goes to public education, healthcare,  and infrastructure development. Doing so ensures a stable country and a rise in the standard of living. The persistent economic myth is that Africa is poor. African countries are not poor, rather their wealth has been stolen or their countries exploited by European nations. Corrupt and authoritarian regimes use wealth to empower themselves, rather than the citizens. Inflation is having a negative effect on the global economy and Uganda is not shielded from it. The Ugandan Central Bank had to increase its key interest rate. The public has to see economic improvement to share in the new found wealth. The boom in mining is positive economic news for East Africa. The Ugandan shilling could go up in value if it becomes backed by gold. Extracting the full potential of natural resources can ensure a prosperous country. The key is to have rational policies and competent economic management. 

Sri Lanka's Economic Crisis

 

Sri Lanka has fallen into economic turmoil. The crisis has become so severe that food and fuel are in short supply. Reports of Sri Lankans attempting to leave the country have been circulating. The common destination is Australia where prospects are better economically. Inflation and shortages have also made the public more resentful of their government. Rice production was negatively impacted with the ban of chemical fertilizer. Rice is a staple for the country and the policy endangered food security. The ban was repealed, but farmers and fishers were harmed from the policy. The economic crisis is tied to a political one. The Rajapaksa family has dominated the politics of the island. Mahinda Rajapaksa has resigned as prime minister and other members of his family have done so. This does not mean their involvement in politics is over. Mahinda Rajapaksa has served as prime minister multiple times. A return to power would be no surprise for a powerful political family. The corruption that has been a part of the system has resulted in civil unrest. Sri Lanka might need major economic assistance. Sri Lanka  then would fall into massive debt that it would never be able to pay. India's influence could grow from the crisis. India is providing financial aid during the worst economic crisis Sri Lanka has seen. Sri Lanka seeks at least $6 billion  to get some relief. Options are limited to either the IMF or more aid from India.  

Twitter Has New Ownership

 

Elon Musk the CEO of  Tesla is set to purchase Twitter. This will be one of his many business ventures. Musk has also stated that he wants to change the popular social media platform. One promise was the relaxing of content restrictions. Musk claims he wants to promote free speech on Twitter and  wants to include an edit button for posts. There also has been discussion about having an open source algorithm. Elon Musk also wants to target cryptocurrency scams on the platform. While it appears that Musk has some ideological motivation for buying Twitter, the real reason is business. Buying Twitter makes it easier for Musk to promote his other companies. The business elite do not support free speech or free expression when it interferers with profit. Twitter was bought by Elon Musk for a total of  $43 billion. An investment of that type is not done for political reasons. Twitter still has a large amount of users and it could be expanded in various ways. The growing concern is the rise of the giant tech monopolies. New competitors can rise, but are at a disadvantage compared to Twitter and Facebook. Having a small business elite control social media platforms is a threat to press freedom and free speech. Large tech monopolies also reduce competition in a free market. This can cause economic complications, which reduce consumer choice . Another concern is related to employment. If the tech giants collapse the job loss will be immense. Elon Musk will certainly add more wealth to his net worth. 

Global Inflation Increases

 

The pandemic and the Russia-Ukraine war has caused an increase in global inflation. Consumer goods are rising in price due to these events. The other factor is that certain corporations are taking advantage of the situation. Intentional price hikes are being done and are not being challenged. World leaders will face the ire of citizens who cannot afford food or fuel. Food prices were previous increasing prior to the war in Ukraine. Global inflation will not effect all nations equally. The developing nations will struggle combined with debts owed by the International Monetary Fund and World Bank. The developed nations might do better, but the class structure means people in poverty are more vulnerable. It is possible that more people could fall into poverty. Inflation does happen in an economic system. The concern is about the rate of inflation, Since January prices have gone up. If this is not controlled, it is possible the world could see another economic crisis. The world have not recovered from the 2008 economic crash. The EU will see higher gas and oil prices due to the sanctions directed at Russia. Although the US is not dependent on Russian energy, the sanctions imposed will still effect American energy prices. This explains why Asian and African nations are not willing to impose sanctions on Russia. China doing lockdowns harms economic activity. A slowdown in economic growth has created fears of possible recession. While the future cannot be predicted, the condition of the global economy is weakening.