My Take | Ukraine faces an unhappy ending even if it wins the war with Russia
- Forget any rebuilding programme such as the Marshall Plan, by then mainly US commercial interests will have carved up agricultural land
By now, it’s worth thinking about what kind of life awaits the ordinary citizens of Ukraine. Most of us probably assume it will depend on whether they win or lose the war against Russia. But if you “follow the money”, always a good idea, from big-time Western investors, private equities and Ukrainian oligarchs, you may conclude that win or lose, it won’t be a happy ending for most Ukrainians.
Being recolonised by Russia will be hell for many. But being taken over by Western, especially US commercial interests won’t be a picnic either. The mainstream news media have created the impression that there will be some kind of a Marshall Plan to rebuild the country.
A drastic structural adjustment programme awaits, thanks to Western lending conditions. That means rapid privatisation and unrestricted foreign investment that get away with being charged pennies on the dollar for the most valuable assets, for those with the right connections to pick up the business. Meanwhile, social welfare and safety nets go out the window.
How do we know? Because it’s already happening, according to the new institute study with the self-explanatory title, “War and Theft: The Takeover of Ukraine’s Agricultural Land”. It’s not for nothing that Ukraine is called “the breadbasket of Europe”. When war broke out, food prices jumped, causing a supply shock around the world. That’s how valuable Ukraine’s agriculture is.
It should surprise no one that Ukrainian oligarchs and foreign investors have been salivating over the vast agricultural land.