Part 6/8:
The two scenarios—China's decreased oil imports and Europe's gas reliance—intertwine to pose a systemic threat to global economic stability. The potential cessation of Russian gas supplies through Ukraine would particularly devastate Eastern European countries reliant on cheap energy. Without access to affordable energy, manufacturing costs will soar, pushing jobs and economic stability to the brink.
Moreover, as countries scramble to replace Russian pipeline gas with outlandish LNG prices, economic pressure will mount. Even if negotiations for alternative supplies succeed, higher prices for energy will contribute to inflation and inadequate growth, further damaging local economies.