Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: Person behind shooting operation at Allenby Crossing is a Jordanian Army soldier.
Israeli media citing Emergency Services: Both wounded in Allenby shooting operation now dead.
Israeli media: One soldier wounded at Allenby crossing now confirmed killed.
Israeli media: Preliminary reports of shooting operation at Allenby crossing with Jordan.
Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test

Study finds UK, Germany, France most reliant on global trade

  • By Al Mayadeen English
  • Source: Agencies
  • 19 May 2024 17:35
  • 3 Shares
4 Min Read

According to economists, the economies of the United Kingdom, Germany, and France would suffer the most if their trade connections were severed, with no possibility of parallel imports.

  • x
  •    Study finds which countries are most vulnerable to sanctions
    Russian President Vladimir Putin, right, and Chinese Vice President Han Zheng, left, visit the Russian-Chinese EXPO in Harbin, northeastern China's Heilongjiang Province, on Friday, May 17, 2024. (Kremlin pool via AP)

The US, Russian, and Chinese economies could withstand a full trade blockade with little damage, whereas Germany, France, and the United Kingdom would suffer greatly under the same scenario, a study conducted by the Sino-Russian Laboratory for Assessing the Consequences of Intercountry Trade Wars revealed.

The analysis, which was done in early 2024 at China's National Supercomputing Center, used mathematical modeling to assess the resilience of 19 world economies to large-scale economic sanctions. Analysts calculated the direct gross domestic product (GDP) losses that each country would experience if faced with a total trade blockade without the option of parallel imports.

The analysis found that while all nations' economies would collapse under the suggested scenario, some would suffer more than others. Russia would be one of the three most resilient, with its GDP contracting by no more than 3.5%. China's GDP would fall by 3.1%, while the US would suffer a 2.3% dip.

If trade links were severed, the German economy would experience the biggest damage, shrinking by 8.1%. South Korea (down 7.9%), Mexico (7.2%), France (7%), Turkey (6.6%), Italy (6.0%), and the United Kingdom (5.7%) would all suffer significant losses.

The research also revealed that the economies of Australia, Indonesia, and Japan would contract by 3.7-3.8%, making them less vulnerable than India, Brazil, and Canada, which would see GDP drops of more than 4%.

Stanislav Murashov, Chief Economist of Raiffeisenbank, commented on the findings, stating that when faced with economic constraints, the least impacted countries will be the most equipped, such as the US, China, and Russia, thanks to their Composite Index of National Capability, which is their increased natural resources and human and scientific development. 

Murashov told Kommersant news that countries who 'win' in this situation are those who localize their production and may "abandon some imported components, parts, raw materials, equipment," adding that the findings may suggest China, the US, and Russia are less reliant on the global market than Europe is.

Official figures show that the Russian economy, although under various Western sanctions for the war in Ukraine, grew by 3.6% last year. In 2024, estimates indicated that the nation's GDP increased by 5.4% year on year in Q1 of 2024. 

Related News

White House drafts order on political violence after Kirk killing

US removes Syria envoys as Kurds face pressure to join Damascus

The International Monetary Fund predicted last month that the Russian economy will grow 3.2% this year, putting it ahead of a number of major Western nations, including the United States (2.7%), the United Kingdom (0.5%), France (0.7%), and Germany (0.2%).

China, Russia to continue adhering to non-alignment principle: Beijing

Russian President Vladimir Putin was in the northeastern Chinese city of Harbin on Friday, the final day of a visit aiming to enhance the economic relationship between the two countries.

Putin arrived Thursday on his first trip abroad since his March re-election, meeting with President Xi Jinping for talks in which the leaders described their nations' ties as a stabilizing force in a chaotic world.

Since the start of the war in Ukraine and the imposition of Western sanctions on Russia, its trade with China boomed, hitting $240 billion in 2023, according to Chinese customs figures.

The Financial Times on Tuesday published an op-ed detailing that Russian President Vladimir Putin's upcoming trip to Beijing might signal a significant shift in perceptions of Western economic threats. It posits that Putin's visit to Beijing could serve as a testament to the resilience of Russo-Chinese cooperation in the face of US sanctions.

Since February 2022, Beijing has become Russia's largest market for oil and gas, as well as a major source of imports.

Alarmed by this partnership, the White House in December 2023 threatened sanctions on any bank facilitating payments for Russian military equipment.

US Treasury Secretary Janet Yellen and Secretary of State Antony Blinken made separate visits to China earlier this year, issuing warnings to Chinese leaders and financial institutions.

Despite these threats, both the Russian and Chinese governments have shown remarkable resilience. Putin's visit presents a new opportunity to discuss the creation of an alternative global financial market.

  • Sanctions on Russia
  • Sanctions on Iran
  • Sanctions on Syria
  • us sanctions on venezuela
  • us sanctions
  • China
  • United States
  • Britain
  • german
  • France

Most Read

Why is Choose Love using a firm with British and US intelligence connections to run a pro-Palestine musical event? (Al Mayadeen English; Illustrated by Batoul Chamas)

Together for Palestine: Troubling questions about the organisers of this huge event

  • Opinion
  • 17 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A Hezbollah supporter who lost his sight in a pager attack carried out by "Israel" on Sept. 17, 2024, covers his eyes with a red headband inscribed with the name "Hussein" during Ashoura, July 6, 2025 (AP)
Politics

'We Have Recovered': Lebanon marks 1st anniversary of Pager Attack

The Arab neighborhood of El Za'im, on the outskirts of east Occupied Al-Quds in the West Bank, near where Israeli government says housing units will be built as part of the E1 settlement project, Thursday, August 21, 2025. (AP Photo/Ohad Zwigenberg)
Palestine

'Israel’s' deliberate policies drive West Bank economy toward collapse

Ben & Jerry's ice cream shop, Wednesday, Feb. 26, 2025, in Cambridge, Mass. (AP Photo/Charles Krupa)
Politics

Ben & Jerry’s co-founder resigns over parent company curbing activism

Trump’s approval rating falls to new low in second term: Poll
US & Canada

Trump’s approval rating falls to new low in second term: Poll

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS