Inflation and Energy Crisis under COVID-19 Pandemic and Ukraine Conflict

Abstract

COVID-19 started in late 2019 and Ukraine conflict started on February 24, 2022 have caused inflation and energy crises to the world. The aim of this paper is to research on the inflation and energy crisis under COVID-19 and Ukraine Conflict by analyzing three markets including the United States, Europe, and China through their reactions to the crises. This is because these three markets are three typical economic entities of the world which have features and representative. Detailed information has been acquired by the authors that the degree these three markets are influenced. Behaviors and measures taken to deal the situation would be analyzed through the relative economic data. Through comparison and analysis, the result is all these three bodies are affected at varying levels on import and export, job opportunity, industrial structure, agriculture and so on. From the study, the authors came to realize that China goes through the crisis relatively smoothly while the United States and Europe are more severely affected. Expectations of the macro situation will be introduced in the end.