The Global Economy Is Threatened by the War in Iran

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Into the American and Israeli war with Iran, the economic, political, and military costs of the conflict for the region and global economy are already significant, and mounting every day.  Iran’s swift and broad retaliation against American military bases in the region, its waves of drone and missile attacks against the Gulf Arab states targeting hotels, airports, and energy infrastructure, and its de facto closure of the Strait of Hormuz are a cumulatively costly nightmare for the Gulf.

The cost this war will exact from the Gulf will ultimately depend on how long it lasts. If intense fighting ends within three to four weeks, the shock may prove temporary. A longer war, however, risks leaving deeper scars – disrupting energy flows, unsettling investors, and gradually eroding the Gulf’s reputation for security and stability.

Read the entire article:  How the War on Iran Threatens the Global Economy (Time Magazine).

from The Global Small Business Blog https://ift.tt/6mG19Ya