One can consider the Ukraine conflict at three levels. At the obvious one, Vladimir Putin is the bad guy who has attacked an independent country after surreally declaring it a non-country. He has also misread the Ukrainians, who wish to be part of the West, and bungled militarily. This means he may now have to dangerously up the ante and/or face trouble at home. Either way, his country and its economy — rendered an outcaste by the Western powers — face a diminished future. No sensible leader would have put his people in such a pickle.
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