Global Economy Affected: Israel vs Iran war

It’s been 5 days now since Israel attacked Iran.

Israel airforce bombed down several nuclear sites in Iran. In addition to that, top Iranian military commanders were assassinated.

This resulted in retaliation attacks from Iran. Hundreds of ballistic missiles and drones were launched overwhelming Israelis air defense systems.

Iran managed to hit many targets in Telaviv and other regions of Israel.

Both sides attacked each other’s energy assets, resulting to multimillion dollar losses.

Unfortunately, the greatest loss so far on both sides, has been human lives. The toll of civilian victims is rising, with no sign of truce in sight.

With all that going on, one can only anticipate the adverse effects a middle east war imposes on the wider world.

The middle east is a large source of oil, any disruptions of oil supply from that region affects global markets.

There are rumors of Iran deciding to close the strait of harmuz which is a corridor for a big portion of global trade.

With that said, all you can do now is brace for impact.

Unless a cease fire be announced soon, the global market especially with developing countries, will begin to see a fire up in prices.

The hyper inflation that was caused first by the covid pandemic, then the Ukraine Russia war, and now Iran Israel war reigns on.

We can only hope for the best.

More importantly, now is the time for affected countries to develop new economic models that don’t depend on the actions of other nations.