Crimea likely won’t hurt world economy

Mar 20, 2014 | 12:45 PM | Thorsten Schier

Tags  Russia, Ukraine, Crimea, ABN Amro Bank, Nick Kounis, global economy, steel, hot-rolled coil China

NEW YORK — Political tensions over Crimea are unlikely to cause major disruptions to the world economy, according to Nick Kounis, head of macro research at Dutch bank ABN Amro Bank NV.

“Despite the uncertainty, we think it’s unlikely that this situation will lead to any significant economic events,” Kounis told attendees at Capital Link Inc.’s eighth annual Shipping Forum in New York.

The chance of a military conflict or even economic sanctions that would impact global markets—by disrupting energy supply, for example—are slim, Kounis said, as the interdependence between the Russian and Western economies is simply too great. “Essentially, there is too much at stake for both sides,” he said.....





Latest Pricing Trends

Poll

Is severe weather affecting your business?

Yes
No


View previous results