April 17, 2024 (EIRNS)—That is the reading from Martin Wolf CBE, the chief economic commentator of Financial Times, in an article headlined “The Shadow of War Darkens on the Global Economy.”
Wolf says “policymakers are walking on eggshells” for a number of reasons, including the fact that “a fifth of world oil supply passed through the Strait of Hormuz, at the bottom of the Gulf, in 2018. This is the chokepoint of global energy supply. A war between Iran and Israel, possibly including the U.S., could be devastating.”
He continues: “The policymakers responsible for the world economy gathering in Washington this week for the spring meetings of the IMF and World Bank are spectators: they can only hope that wise counsels prevail in the Middle East. If disaster were indeed avoided, what might the world economy look like?”
