The world is currently changing so rapidly that the term ‘new normal,’ which first appeared in the business realm and later enriched diplomatic slang, has been added to the active vocabulary of not only all those who follow the news, but even those who don’t.

Western sanctions have so far cost global corporations almost $60 billion, Wall Street Journal estimates The losses of international companies from Western sanctions on Russia have exceeded $59 billion, the Wall Street Journal reported on Friday, citing data from public statements and securities filings.

Manila accused Beijing of using “excessive” force during a standoff in contested waters last week China has said the Philippines was to blame for a recent spat near the disputed Ren’ai Jiao atoll, which saw a Chinese military vessel unleash water cannons against two of Manilla’s supply ships. Both countries claim the island is part of…