The foreign policy direction giving US think tank "Council on Foreign Relations" (CFR) focused on a few months ago with the consequences of tougher sanctions Russia on the global economy, the sanctions are now actually and against the Russian energy, finance since July 2014 Defence Industry addressed.
An article dated 05/04/2014 CFR, Title: "Global Monthly Ecomomics: May 2014. Russia Contagion: Local or Global" by Robert Kahn (Steven A. Tananbaum Senior Fellow for International Economics) discusses the assumption that expanded sanctions against Russia comparatively had little impact on the rest of the world.
Interestingly, this was claimed by "Goldman Sachs Research"; Accordingly, Russia is simply not important enough for the world market, despite its significant energy exports. There is only limited in the global production chains and international markets integrated. Kahn quoted Goldman Sachs' conclusion: "impact on the global economy due to the current tensions could be relatively small." In other words encouraged Goldman Sachs with this assessment downright sanctions.
The CFR-author doubts this loose expertise. So far had never sanctions against such a large and complex country have been imposed assessments therefore very complicated. For the discussion on the issue of crisis contagion possibility is important that precisely at interwoven with the world of the Russian market is, as that one could ignore him.
Intensified sanctions could in Russia lead to a sudden stop of capital flows, ie a kind heart attack similar events.
The sanctions should be for Russia "a shock", but hardly noticeable for the rest of the world? (more ...)
