Finance
Russia’s War Bodes Poorly for World’s Resource Struggle: Grantham
GMO’s Jeremy Grantham says the war is exacerbating trouble that he expects to be long term.
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Russia’s invasion of Ukraine has exacerbated already historic demands on the resources that enable global growth, Jeremy Grantham, co-founder of Boston-based asset manager GMO, wrote in a new commentary.
War broke out at the same time as both interest rates and inflation were rising, with “extremely high asset prices beginning to wobble” and immediate repercussions for energy markets and the agricultural sector, which is dependent on Russia’s potassium and phosphorus.