BUSINESS AND ECONOMIC CONSEQUENCES OF UKRAINE RUSSIA WAR

Abstract

War shock heavily on the world’s economy and business already in past like in World War 2 and the war held in 1857 which badly affected the world's economic and business conditions. During the war, infrastructure, and property can be destroyed, which has a significant impact on the local economy (Pakistan Economic Survey, 2021-22). Buildings, roads, and other facilities may need to be rebuilt, which can be costly. War can disrupt supply chains, Acquiring the necessary resources for operational purposes can become an arduous endeavor for businesses, thus engendering scarcities in commodities and services, which can drive up prices and impact economic growth (Justin-Damien Guénette, 2022). War can disrupt international trade, causing the global economy to suffer. Trade routes may be disrupted, and international relations may be strained, which can impact trade agreements and the movement of goods and services.