Welcome back to Semafor Business, a twice-weekly look at the world of big money from Bradley Saacks and me.
As Russia’s war in Ukraine hits the one-year mark, we’re taking stock of how the invasion has rippled through the global economy. Russian gas is still heating European households. Global wheat production is expected to rise, even with Europe’s breadbasket under invasion. Western defense contractors are poised for a windfall. And you can still get a Sprite in Moscow — if you can read Farsi.
In addition to punching another hole in Thomas Friedman’s McDonald’s Peace Theory, the invasion challenged pandemic-weary central bankers and threatened Western unity.
Against that backdrop, we’re launching the inaugural Semafor World Economy Summit on April 12 in Washington, D.C., as central bankers, CEOs, and policymakers gather for the World Bank and IMF spring meetings. Details below, and register here.
And as U.S. aid for Ukraine becomes a target of Republican presidential candidates, Bradley checks in on the donor scene and finds the merely-medium-rich crowd feeling left out.
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