berg80
Diamond Member
- Oct 28, 2017
- 34,804
- 28,320
- 2,820
- Thread starter
- #261
No matter how the war is characterized, it may prove to be catastrophic in some parts of the world if it doesn't end very soon.
The Forces of Scarcity Hitting Asia May Soon Spread Across the World
When the war in Iran started on Feb. 28, Asia expected to see serious, gradual impacts from losing access to a huge portion of the world’s oil and gas. But the conflict’s economic and social impacts have hit the region harder and faster than officials and experts expected.Many countries across the Asia-Pacific are experiencing sudden jolts of disruption that they are struggling to manage, with some comparing the crisis’s breakdowns and scope to the Covid pandemic.
Even if there is a peace deal soon, the future of this industrious region that has driven global economic growth for decades will likely include months of canceled flights, surging food prices, factory pauses, delayed shipments and empty shelves for products long considered quick and easy to buy worldwide: plastic bags, instant noodles, vaccines, syringes, lipstick, microchips and sportswear.
Collectively, according to many officials and experts, if the war’s strangling of commercial traffic through the Middle East lasts for even a few more weeks, and uncertainty lingers, shortages could push several countries into convulsions of unrest, followed by recession.
