Ukraine: The Unintended Consequences

by Amir Taheri Feb 19, 2023

The most significant unintended consequence of the Ukraine tragedy may be the derailing of the so-called globalization process. Two decades ago, all the talk was about comparative advantage and delocalization. Today people talk of re-localization and rebuilding “our own industry”. This may turn out to be a return to the corn-law economic mentality and protectionism, which could spell disaster for many countries or offer an overdue correction to globalization gone too far.

Invading Ukraine was an unnecessary move which, in Talleyrand’s view, is worse than making a mistake. It has let too many genies out for anyone to control let alone push them back into their bottles.

Well, spring isn’t far away and Putin may have his offensive. But the question remains: then what?

Charles-Maurice de Talleyrand, prince de Bénévent, in full Charles-Maurice de Talleyrand-Périgord, prince de Bénévent, (born Feb. 2, 1754, Paris, France—died May 17, 1838, Paris), French statesman and diplomat noted for his capacity for political survival, who held high office during the French Revolution, under Napoleon, at the restoration of the Bourbon monarchy, and under King Louis-Philippe.


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