Electric shock delivered by Putin ends the process of globalisation, Scholz

Moscow: ‘Russian President Vladimir Putin’s attack on Ukraine has sent shockwaves through the globalisation process. The shock has shaped a new multi-polar world, and the phase of globalisation is coming to an end,’ said German Chancellor Olaf Scholz.

Moreover, Scholz warned that the Russia-Ukraine conflict has had a devastating effect on fuel security and the European economies have to pay a heavy price. Schulz acknowledged that an industrialised country like Germany has been hit the hardest and that in the current times, Germany poses a major challenge. Scholz also noted that North America and European countries had reaped the benefits of globalisation over the past three decades, with good growth and declining inflation.

At the same time, the German chancellor said that he was convinced that Putin should not be allowed to win the conflict in Ukraine under any circumstances and expressed confidence that this would be achieved.