Rapid inflation and a rising oil price has been increasing food insecurity, especially in the developing world where most people are on limited incomes and are particularly vulnerable to rising prices. Although those on low incomes in first world countries have also been feeling the pinch. The war in Ukraine has the potential to turn things even more violent as millions of people struggle to survive. Famine may emerge in the poorest of nation where corruption is endemic and food is scarce at the best of times.
Riots and looting are starting to occur and revolutions could easily follow if conditions don’t improve.
Where is this headed? There is no clue about when the war in Ukraine will end, but even if it does in the next few months the global food chain has been severely disrupted and things will not return to normal anytime soon. Are we entering an extended period of global political and economic turmoil as the cost of food, fuel and housing rise above what many people in a growing number of countries are able to afford?
If so, what kind of impact will this have on the global economy and will market volatility increase as political and economic stability starts to crumble?
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