Explainer: How geopolitics is reshaping the global economy
Business
Geopolitical conflicts (think trade wars, Ukraine, and the West Asia conflict) are now driving big changes in the world economy.
Unlike the old days of financial meltdowns, today's crises are more about politics disrupting trade routes and making global business riskier.
Why it matters for India
India is feeling the pinch: oil and food prices have shot up thanks to COVID-19 and the Russia-Ukraine war.
This puts extra pressure on the rupee and makes it tougher for India to balance its books after already dealing with pandemic fallout.
Policymakers now have to juggle these global shocks while keeping the economy steady at home.