Russia in global power scenario is an important player and can not be ignored. It is in the larger interest of the global durable peace and stability there should be more centers of power instead one. Sanctions against Russia are not effective rather they are more biting Europe and America.
Most of the world’s advanced and powerful countries are in Himalayan debt and America is on top. Let us look at the United States debt position as on 28th March,2023.
US National Debt: US$ 31,645 billion
Debt per citizen: US$ 94,561
Debt per tax payer: US$ 246,868
US federal budget deficit: US$ 1,414 billion
US Federal Debt to GDP Ratio
Year Debt to GDP ratio %
1960 53.08
1980 34.54
2000 58.58
2023 120.36
Interest on Debt: US$ 548.73 billion
US Defence Budget: US$ 780.76 billion
US Total Debt: US$ 94,804 billion
US Total interest paid: 3,703 billion
The figures show that America is the most indebted country in the world and its debt is increasing in each and every second and is more than its total GDP. This enormous debt situation also showing that America is no more world’s sole super power and its power and influence is declining day by day.
World Top Countries with highest volume of debt
S.No Country National debt US$ billion GDP US$ billion Public Debt to GDP ratio % External Debt to GDP ratio %
1 USA 31,645 26,292 120.36 93.27
2 China 14,314 17,615 81.26 17.73
3 Japan 13,329 4,476 297.78 115.24
4 Germany 3,319 4,196 79.10 182.14
5 UK 3,743 3,456 108.31 298.88
6 India 3,255 3,402 95.70 21.59
7 France 3,681 2,892 127.30 287.99
8 Italy 3,563 2,177 171.51 142.92
9 Brazil 2,079 1,967 105.70 33.44
10 Canada 2,270 1,769 128.32 129.03
11 Argentina 603.78 655.87 92.06 49.25
12 Australia 1,191 1,794 66.38 120.64
13 Belgium 756.502 613.71 123.27 246.79
14 Greece 524.735 231.32 226.63 226.09
15 Indonesia 625.31 1,368 47.70 34.11
16 Ireland 337.74 540.313 62.51 49.53
17 South Korea 1,052 1,840 57.18 26.16
It is quite clear that USA and most of its allies are among the top countries with highest volume of debt. It is time to rethink their policies of hegemony as in the name of weapon of mass destruction these countries massacred of Iraqis and killed more than 600,000 innocent people. Now look at the comparison of Ukraine and Russia: -
Russia Ukraine a comparison
Indicators Russia Ukraine Difference %
Population million 145.4 41.16 249.76
Area Sq km 17,096,246 603,628 2732.25
GDP (PPP) US$ 4.365 trillion $ 584 billion 647.43
GDP (Nominal) US$ 1.829 trillion $181 billion 910.50
GDP Per capita (PPP) $US 30,013 $14,150 112.74
GDP Per Capita (Nominal) $12,575 $4,380 187.10
Active armed forces personnel 1,014,000
5th Largest in the world 196,600 415.70
Reserved Personnel 2,000,000 900,000 122.22
Military Budget US$75.00 billion $ 50 billion 50
Annual Armed exports US$195 billion NA
Air Force 165,000 35,000 371.43
Navy 150,000 15,000 900.00
Army 280,000 125,000 124.00
These figures are clear that there is no comparison between Russia and Ukraine and US and west pushed Ukraine into a war which is totally a suicide foe Ukraine and 100% serves the interest of US and Europe and is proving catastrophe for Ukraine and its people.
Another important factor is emerging situation at arctic ocean which is a game changer.
The Arctic region is an area of growing importance in terms of increasing access to natural resources and new transport routes as ice and snow conditions are undergoing rapid change. Economic developments are accelerating which can beneficial for the region and global economy. In future there would be enormous economic activities.
Arctic region is now the center of new power play. Russia, China, USA, Norway and Canada are important players of this power play. In the summer of 2040 Arctic could be ice free. There would be new opportunities; new ocean, new resources. Arctic region is full of natural wealth and resources. It has 30% of the world’s undiscovered gas, 13% of the world’s undiscovered oil, abandonce of uranium, gold, and diamonds and plenty of fisheries.
Hidden beneath the ice 90 billion barrels of oils, 669 trillion cubic feet of natural gas, 44 billion barrels natural gas liquids, sea route, short cuts and could reduce distance between Europe and Asia by 40%. A ship now takes 30 days to travel from Rotterdam to Japan and after 2040 it might take only 18 days, a reduction of 12 days. It also could reduce shipping greenhouse emission. Every year about 14,000 ships transit the panama annually. More than 20,000 ships transit the Suez annually. In 2040 Arctic would be another important sea route.
In 2007 USA ship headed for Arctic defines territory. In 2013 claimed up to North Pole as its own. In 2015 Russia presented 1.2 million square kilometers Arctic claim to UN. UN Convention article 234 states, ‘
“In the name of prevention, redbud and control of marine pollution from vessels, countries that coastlines are near arctic shipping routes have the ability to regulate the routes maritime traffic so long as the area remains ice-covered for the majority of the year.”
Russian has a competitive edge over other countries in arctic region, It has 24,000 km coastline, 53% of arctic ocean’s coastline.
Country No of ice breakers
Russia 40
Canada 21
USA 2
Ice breakers also give competitive edge to Russia. It has more ability to help ships, help them when they got stuck. Russia has the power and ability to set the terms and conditions. All passing vessels through arctic should pay tolls to Russia. All vessels should provide an advance notice. Besides, Russia has militarized arctic and reopened old naval bases, set up new air force camps, increased submarine patrols, established arctic bridges.
Russia joined hands with China which is a strategic ally of Russia in arctic region. Russia China alliance is given very importance by analysts. China declared itself a near arctic state. China is only 900 km away from Arctic Circle. China is paying much intention in building more infra-structure and is building “The Polar Silk Road”. China completed 121th Arctic scientific research expedition. China is also going to build Research Centre at Svalbard Islands. The Arctic region has become a new focus of conflict between the US and China. Washington seeks to block Beijing’s activities in the region and prevent it from strengthening its presence there, in keeping with the guidance of President Joe Biden’s administration, which the session considered an extension of the policy of former US President Donald Trump. America’s military position towards Chinese activities in the Arctic, including investments, and Washington’s accusations that China is engaging in expansionist activities in the South China Sea and the Arctic via many political and economic measures. Washington is deliberately stoking disagreements between China and Russia in order to disrupt cooperation between them in the Arctic region because of the strategic importance of that region to the US. Russia and Canada cooperate in many areas in the Arctic, while the two countries do not agree on many other security issues. China cooperates with Russia on several Arctic issues. In July 2017, the two countries announced a joint initiative called the “Arctic Silk Road.” China was among the first countries to support shipping via the North Sea amid the Western boycott of this route. In addition, there is good military cooperation between China and Russia in the region. UAE has advanced technology in the field of oil and gas and China enjoys vast production capacity. This indicates opportunities for cooperation between the two countries in the Arctic, which has many investment opportunities in the energy sector. Hard-rock mining is also well developed, especially in Russia, where the former Soviet government’s desire for national self-sufficiency provided a compelling spur. The major centers are located around Murmansk and Norilsk. The only significant source of diamonds in Russia is in Sakha. There is also gold, tin, nickel, copper, platinum, and cobalt, together with iron ore, coal, and apatite. All these are being worked. For the first four, the north provides probably the largest sources in the country. There is some mining in Alaska and Arctic Canada, especially of lead-zinc, but it is not such a significant addition to national resources as in Russia.
Geopolitical changes in the Arctic region are increasing, but they will not lead to war or confrontation between the different powers in the region because it is an important strategic region for Russia, which depends on the region in all its future planning. Likewise, climate change and global warming are increasing the importance of the region in terms of work, living, and investment. It could be called the “new Arctic civilization.”
There are many aspects that indicate that Russia and China are emerging powers and no county can ignore them. It is therefore advised to the policy makers of Pakistan that besides having strategic ties with China, relations with Russia must also be given due importance and should not be ignored. It is in the larger interests of Pakistan that we may join hands wherever we have the commonality of interests with Russia. The sanctions imposed by western countries and USA affecting negatively to European countries and failed to bring the desired results. Pakistan should move towards technology transfer from Russia and needs to start meaningful negotiation to get Russian help in resolving its energy crisis.