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Market fallout from Ukraine war combines the risks of past crises

Global economy faces some of the same challenges of the 1970s, 1980s, and 1990s — but all simultaneously

The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy

Due to the invasion of Ukraine, Russia is being disconnected from the global system, one economic and financial wire after another.

This will devastate the economy, once the world’s 11th largest and still a G20 member. Together with a crippled financial system, it will result in a depression undermining the wellbeing of generations of Russians.

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