{"id":62275,"date":"2022-03-22T19:41:40","date_gmt":"2022-03-23T00:41:40","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62275"},"modified":"2022-03-22T19:41:40","modified_gmt":"2022-03-23T00:41:40","slug":"next-inflation-shock-comes-from-resource-nationalism","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62275","title":{"rendered":"Next Inflation Shock Comes From Resource Nationalism"},"content":{"rendered":"<header class=\"ArticleFull_header__Eyn7V\">\n<h3 class=\"ArticleFull_title__MEgbb\"><a href=\"https:\/\/www.zerohedge.com\/commodities\/next-inflation-shock-comes-resource-nationalism\">Next Inflation Shock Comes From Resource Nationalism<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__t4rGu\">\n<div class=\"NodeContent_body__6iJOI NodeBody_container__hI8PI\">\n<p>First there was supply-chain disruption brought on by the coronavirus, then war in Ukraine further rocked commodity markets. The next bout of inflation via raw material prices will be brought on by resource nationalism.<\/p>\n<p>While the cost pressures brought on by the difficulty in moving goods in a world in lockdown are fading, other factors are more enduring.<\/p>\n<div class=\"AdvertisingSlot_desktop__lDlm4 AdvertisingSlot_tablet__MndqJ AdvertisingSlot_mobile__7vsEF AdvertisingSlot_placement__b8TLC AdvertisingSlot_align__800B1\">\n<aside id=\"in-content-video\" class=\"AdvertisingSlot_verticallySpaced__MBqFK\">\n<div class=\"ac-widget-placeholder ac-reset\" data-loaded-pid=\"zerohedgecom\" data-loaded-wid=\"0011r00002RYAhn_1419\">\n<div id=\"ac-lre-player-ph-ext-4mQHOPWwoDImYuX8RFimO1VK4HTkcHNx\" class=\"ac-lre-player-ph-ext ac-lre-ph-playlist-hide-scroll-bar ac-lre-carousel-horizontal ac-lre-carousel-legacy\">\n<div id=\"ac-lre-player-ph-4mQHOPWwoDImYuX8RFimO1VK4HTkcHNx\" class=\"h0011r00002RYAhn_1419 d0011r00002RYAhn_1419 vjs-hide-top-articles\">\n<div class=\"w0011r00002RYAhn_1419 luminous-theme\">\n<p>For instance, the post-Cold War spread of e-commerce allowed companies to treat the world as both factory floor and marketplace. Comparative advantage, strategic partnerships and the success of globalization led to growth and prosperity. Russia\u2019s invasion of Ukraine jarred that dynamic and has set in motion a series of quasi-isolationist responses.<\/p>\n<p><strong>What started as economic sanctions on Russia has tipped the balance: we are no longer in a uni-polar world.<\/strong>\u00a0We have entered into a multi-polar one where traditional economic superpowers can no longer call the shots.\u00a0<strong>Service-driven economies are price takers and have far less leverage over those producing raw materials.<\/strong><\/p>\n<p>The geopolitical landscape has changed and economic incentives along with it.\u00a0<strong>The growing\u00a0emergency\u00a0that sanctions on Russia have caused over energy supply security will be inflationary for years to come<\/strong>. Nowhere is this more evident than in Europe, given its direct exposure to Russia energy, with\u00a0individual countries\u00a0prioritizing domestic energy security as a first port of call.<\/p>\n<p>The European Union entered an era of energy inflation given its commitment to address climate change and fossil fuel dependence by \u201cgreening\u201d the economy. Such aims create price pressure, and has led to discussion at the European Central Bank on whether its\u00a0inflation target\u00a0should be adjusted.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/rising%20agri%20prices.jpg?itok=luVernMa\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/rising%20agri%20prices.jpg?itok=luVernMa\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/rising%20agri%20prices.jpg?itok=luVernMa\" alt=\"\" width=\"500\" height=\"288\" data-entity-type=\"file\" data-entity-uuid=\"3e7b40db-5f9b-4702-97aa-13c54d69d926\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Next Inflation Shock Comes From Resource Nationalism First there was supply-chain disruption brought on by the coronavirus, then war in Ukraine further rocked commodity markets. The next bout of inflation via raw material prices will be brought on by resource nationalism. While the cost pressures brought on by the difficulty in moving goods in a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[31065,13351,20902,3237,32782],"class_list":["post-62275","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-bloomberg-markets-live","tag-price-inflation","tag-resource-nationalism","tag-supply-chains","tag-valerie-cerasuolo"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62275"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62275\/revisions"}],"predecessor-version":[{"id":62276,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62275\/revisions\/62276"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}