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The end of FY2022 feels a little like a blur of problems, people and red numbers; that’s not even considering what we have just been through.
This analysis was undertaken in autumn 2021, long before Russia’s latest invasion of Ukraine.There remains an intense debate about the economic consequences of Russia’s military incursion. But there is surely no way to know how severe and long-lasting the constraints on global commodity supply will be and so no credible way to quantify the shock…