Countries with a mercantilist strategy are the losers of the war in Ukraine

The COVID crisis and the war in Ukraine will lead to a lasting rise in the prices of energy, other commodities and transport. In short, we can say that the countries that are losing out in this development are those with a mercantilist growth strategy: growth is generated by the ability to export and gain market shares. These countries need to import commodities and use transport to manufacture and export: they will therefore suffer greatly from the rise in commodity and transport prices. These include the euro zone, especially Germany, China, Turkey, South Korea, etc.