‘Clearly, Ukraine is holding cards’ — political economist on why US pressure won’t force Kyiv to concede
If Ukraine’s military resistance to Russia’s full-scale invasion stunned the world, its economic resilience in the face of a larger, better-equipped enemy is a lesser-known story of the war.
A combination of rapid state expansion, prudent monetary policy, active civil society in Ukraine, and crucial external funding from foreign partners since 2022 have helped Kyiv avoid the kind of catastrophic state collapse a war can trigger.
As a result, Ukraine is far from “doomed to defeat” — even if the
