Reading response on
Nonfiction article “Why Russia Can’t Afford Another Cold War”
In the article by James B.
Stewart Why Russia Can’t Afford Another Cold War, it is explained why
autocratic President Vladimir Putin, would not be able to engage in another
cold war. The crisis in Ukraine has attracted the attention of many world
leaders and has also been compared to Hungary
in 1956 and Czechoslovakia in 1968.
The
major difference between now and then is that the Russia now has a stock
market, which has recently dropped by more than 12 %, which is, according to
the article “panic selling”. Because the Stock market is falling, Russia would
not be able to “afford another cold war”.
The author seems to think that because of the
failing stock market, Russia avoided invading Eastern Ukraine for a while. For
example according to Anders Aslund, a senior fellow at the Peterson Institute
for International Economics in Washington, because the RTSI, (Russian stock
market index) 12 %, Russia was trying to get its economy back up instead of
invading Ukraine. In addition, the author also thinks that President Vladimir
Putin is following an old “soviet playbook”. This shows that the author
believes that the President of Russia could cause another war. Another reason
that Russia can't have another cold war is because they are part of the global
market. They need companies to invest in them, and now it is "far more exposed
to market fluctuations because it owns a majority stake in a number of the
country’s largest companies". Again, according to Dr. Aslund, Russia is
much too vulnerable economically to go to war. This is becasue the Kremlin has
made a humongous mistake by ignoring how much they depended on Europe. All in
all, Russia will not be able to go to war anytime soon, because its stock
market is too weak and vulnerable t0 be able to fund a war.
After
reading this article, it made me think if it was possible of the conflict
between Russia and Ukraine could escalate into something bigger, like war. Also
since I know that the US is getting involved, they might use force to stop
Russia. I would like to research more on previous wars, to see if there is a connection
on how they started. The possibilities to what this crisis could turn into are
endless, from another World War, to just not even having to use force.
