ISLAMABAD: During the past few months, an undeclared global economic war has been launched wherein every country was trying to mint as much money as possible. This global economic war has surfaced from the outset of the year 2022, when the world got rid of the two-year long lockdowns and social distancing like restrictions in the wake of double COVID vaccination of people that is being followed by booster doses.
In December 2021, the international crude oil prices were fluctuating around $70-72 per barrel which surged close to $90/barrel in January 2022, when some leading countries in the world lifted COVID-related curbs and started welcoming the international tourists, students, and business persons. This sudden increase in international oil prices was the beginning of an undeclared global economic war and in the next stage, the prices of other important commodities such as gas, coal, sugar, wheat, gold, edible oil, tea, electronic devices, cars, and cellphones started edging up in a systematic manner.
