The global economy has been issued a 10-day warning as Iran’s and US’s chokehold on the Strait of Hormuz could bring global trade close to a halt.
Robert Pape, a professor at the University of Chicago, said he believes the economic consequences of the war are about to expand far beyond the price of oil—and he says the effects will be felt in days, Business Insider reported.
“Within 10 days, parts of the global economy will start running short of critical good. Not just higher prices – Shortages. Markets are not ready for this,” he said.
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