Economic Risks for Developing Countries

The economic shutdown poses risks to developing nations that have thrived on openness and foreign aid. The ongoing global conflicts and rising protectionism raise questions about whether shifting to isolationist policies is wise.


Economic Risks for Developing Countries

There is a risk that repeated economic closure may reverse some developing countries back to those that have emerged from openness and financial assistance and technical skills from wealthy countries. All countries differ in their political and economic relationships, and consequently, political alliances do not necessarily become economic alliances.

"The result of global disagreements before and during the war in Ukraine and in the gas sector, as well as under conditions of globalization raises the question: is it worth changing economic policies and shifting from openness to closure? Traditional policy, support, customs barriers, and restrictions on exports are applied in all countries, even in traditionally developed ones, possibly as a means of saving from poverty and various conflicts."

Many countries, such as...