The Ukraine-Russia has shown how powerful economic sanctions can be. How, it can destroy an entire country, Russia when applied by the whole world? However, it also, showed it weakness. Russia was vulnerable, because Russia dollar reserves were all under the control of the US? Vladimir Putin obviously, missed that. All $630 billion of it, that he took pains to save? Now, this is an expensive lesson for Russia as well as other countries as well. Still, it will also, put in place a race, to change the world economic order to one that protects each country's sovereignty. China probably, laying the groundwork now, to avoid the same fate, by decoupling its economic assets from the US and Europe. Russia when this war is over, will do the same. Any other country will be a fool, not to. Now, here is the problem, once you lose the economic power of sanctions, your only option left is the military solution or wars to settle disputes between countries? So, China waits for the opportunity to invade and take Taiwan, knowing it has the economic and military power to do so. China produces most of what the world wants now thanks to the globalization promoted by US and European traitors to their countries. Even rare earth minerals used in multiple applications, including military weapons are dominated by China. China would be the next big threat, to world peace but, even a bigger threat than Russia, with its economic and military power----it is coming too!
The term "the enemy of my enemy is my friend" seldom work. Maybe it is for short term. In 1972, Nixon went to Peking for the same reason. 50 years later and it becomes a problem. Through out human history, is there any period when there is no war. Hardly any. There is nothing about friendly competition. For example, the Olympic game and it is supposed to be non-political. But it's by country and how is it non-political. Competition is seldom friendship.
One more thing not discussed is the unintended consequences of other countries being affected by the trade sanctions on Russia. These countries will suffer from the collateral damage to their own economies thru no fault of their own.
Just one question. When it was the last time, that a country, suffered the same fate, without killing civilians ?
That would be when the Saudi and Oil Allies introduced the Oil Embargo upon the USA and gutted the US financial system all through the 1970s. This...Today makes for some amazing reading https://en.wikipedia.org/wiki/1973_oil_crisis And this book is solid gold reading right now "Making Use of the "Oil Weapon": Western Industrialized Countries and Arab Petropolitics in 1973-1974
Soudies recently caused a massive starvation of millions in the south of their country. (Forgot the name of the country) They were blocking the aid of red cross (?) They beheaded a journalist in the embassy of Turkey. They have send a virus in a form of video to Bezos. They're as any other corrupt regime out there. I had in mind, - any, decent, democratic country, not some rotten state.
I also read a bit about the Crimea effort Putin made in 2014 and how there were sanctions applied against Russia back then. Several articles went into great detail about how he learned from that and made an effort in the last 8 years to avoid similar pain when he ventured out to take the next thing. They brought more things in house and gained autonomy over a number of areas where they were previously dependent on other countries. As you mention though, in a global economy there's really only so much he can do.