Freeland says WEF Russia loss will ‘boost’ economy

Canadian Deputy Prime Minister Chrystia Freeland said at the World Economic Forum (WEF) in Davos on January 18 that she was “very confident” that Ukraine would beat Russia and shock the economy. there is,” he said.

Freeland said G7 finance ministers and governments have no control over whether COVID-19, global supply chains, or “total disinflation” will occur.

What they can do, she said, is to provide more assistance to Ukraine.

“One of the things that we have some practical means of is that we can help Ukraine win, obviously and decisively. If I did, I would know it as well as Fareed, and it would be a huge boost to the global economy.

CNN’s Fareed Zakaria hosted a panel discussion in Davos called “Restoring Security and Peace.” The panel also included Polish President Andrzej Duda, Ukrainian Deputy Prime Minister Julius Wilidenko, NATO Secretary General Jens He Stoltenberg, and US Director of National Intelligence Avril Haynes.

Freeland did not elaborate on the economic rationale behind his claims, but told the Commons Finance Committee in October that the Russian aggression was “a major factor” in rising energy prices. said he was thinking

Freeland told the commission that helping Ukraine was an important part of Canada’s fight against inflation.

oil price It rose steadily from spring 2020, spiked after the February 2022 invasion, and is now at December 2021 levels. gas price is lower than December 2021.

She also did not define what constitutes a victory for Ukraine. , does not necessarily lead to the lifting of sanctions against the Kremlin.

Canada’s Deputy Prime Minister and Finance Minister and member of the WEF Board of Directors, he said that war is ultimately a battle of values, and that some “important things”, such as economy and security, are on the battlefield. said that it is being decided by and the principle of nuclear deterrence.

Other panel participants elaborated on the impact of the conflict.

Beyond issues such as values, the rule of law and the economy, Haines said the conflict will have consequences related to the strength of the Western alliance and how it manages future crises.

She noted how China is learning military lessons from war.

“One of the things that seems most likely is that in this situation, rather than effectively allowing the world to work together and provide assistance, it is inherently overmatched and leads to rapid confrontation. I hope so,” Haynes said.

Stoltenberg expands on what he believes a victory for Ukraine might look like, entailing escalating the war to gain a strong position in a negotiated peace settlement.

“Weapons are the way to peace,” he said.

Canada supports this approach and announced on January 18 that it would send an additional 200 armored personnel carriers to Ukraine at a cost of $90 million.

Noe Chartier

Noé Chartier is a reporter for the Epoch Times based in Montreal. Twitter: @NChartierET Gettr: @nchartieret