The Impact of Extreme International Political Conflicts on the Household Consumption Based on Big Data Analysis

Abstract

In 2022, the globe has not been peaceful, as various disputes, political negotiations, and even furious wars have disturbed the political stability. Most significantly, the Russian-Ukraine war directly break the normal life for citizens in these countries. For the indirect impact, citizens' consumptions around the whole world have been fluctuated due to the relevance of international trade. To further understand the impact of the brutal wars on citizens, especially changes in household consumption, this paper summarizes and analyzes specific data. During the research, firstly, I chose major countries in different categories which can act as best representatives. Going further, the paper collects data from both the macroeconomy and micro-economy to have a complete and precise conclusion. Among that, GDP and CPI are considered since they are the best demonstrations about overall human consumption; export and import are also part of that due to the close relationship between resident costs and national costs; be more specifically, prices of all kinds of products are also analyzed, since these detailed data are the most intuitive and convincing representations of people's consumption in the context of war. After the whole analysis, there are several conclusions derived from it. In the first place, for Russian and Ukraine, their dramatic influence is undoubtable, but Russian is easier to recover to original peace compared to Ukraine since the original profound bases. Additionally, US citizens experienced the most for the products' prize fluctuation; China, UK and France also underwent impacts, but these consequences are limited to specific products' catalogs. Finally, overall, in the context of Russian-Ukraine war, the impact is not so dramatic that most countries restore the stability of household consumption in three months or so, which also circumvents unnecessary anxiety among people around the world. In general, this study focuses on the topic of Russian-Ukraine political conflict and war that people are most concerned about recently and emphasizes on the topic of household consumption that is most relevant to people's life. At the same time, through multi-dimensional data and various types of investigation, the conclusion of the research is also more convincing and credible.