How World War Would Change Our lives

ARTICLES | Mar 01, 2022
How World War Would Change Our lives

World War III would end normal life, potentially mobilizing people in the country’s defense and harming economic, social, environmental, and political conditions. Our outlooks, ideas, and values would be utterly transformed.

Tense situation in recent years, such as between Iran and the United States, in Afghanistan, and now between Ukraine and Russia, could be seen as triggers for World War III. Russia’s demands on Ukraine have made the conflict more and more tense. Countries have begun to impose sanctions on Russia to deter its aggression and try to bring peace talks. These measures may impact life in Russia.

• Political and economic aspects: Russia’s central bank and some other Russian banks may be unable to perform transactions. The world's fourth largest reserve fund cannot be used to protect the Russian currency. Russian companies are losing access to capital. Investors can't retrieve their money. Russia's exclusion from the Swift system makes international money transfers harder.

• Transport: Russian airlines are excluded from European Union airspace with a wide impact on transport industries.

• International trade: Canada has banned gas and oil from Russia. The United States has imposed sanctions on Russian companies. Businesses cannot access funding sources, blocking exports.

• Livelihoods: Russians are affected by losing services such as Apply Pay, Google Pay, and credit cards. The loss of cashless systems disrupts life in the country and brings additional problems such as a return to cash.

Implications for the future

- A time of war transforms our lives. Potential attacks from space or digital warfare underscore the importance of consumer goods.

- A world war now would be different from the conflict 77 years ago. New technology and systems put a focus on cybersecurity.

- Many assets may lose value but fundamentals like medicine and survival may gain importance.

Credit: https://www.prachachat.net/world-news/news-849302,https://www.bbc.com/news/world-europe-56720589, https://www.theguardian.com/.../swift-action-at-last..., https://ec.europa.eu/.../pres.../detail/en/statement_22_1423, https://www.consilium.europa.eu/.../restrictive-measures.../, https://www.jdsupra.com/.../possible-international-trade.../, https://www.mccarthy.ca/.../canada-joins-international..., https://www.forbes.com/.../visa-mastercard-suspend.../, https://www.engadget.com/russia-apple-pay-google-pay...

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