The crises caused by the Iran war will hit the world in four waves
The ongoing Iran war is expected to impact the global economy in four significant waves. The first wave will be felt through energy price hikes, which will subsequently affect fertilizer and food prices. The second and third waves will involve structural damage to the trading system and disproportionate economic impacts on developing countries.
- ▪The first wave of impact will be visible through rising energy prices, which will lead to increased costs for fertilizers and food.
- ▪The second wave involves long-term architectural damage to the global trading system, as seen with the rerouting of shipping traffic after Houthi attacks.
- ▪The third wave will disproportionately affect developing economies, leading to import compression and increased hunger among low-income households.
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OPINIONOPINION, Opinion|US-Israel war on IranThe crises caused by the Iran war will hit the world in four wavesThe impact of the conflict will not stop at energy price hikes. It will spread to various sectors and last years.By Umair WaqasPublished On 21 May 202621 May 2026ListenListen (7 mins)SaveClick here to share on social mediashare-nodesSharefacebookxwhatsapp-strokecopylinkgoogleAdd Al Jazeera on GoogleinfoТankers sail in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance on March 11, 2026 [Stringer/Reuters]If tomorrow Iran, the United States and Israel were to announce a peace deal and the Strait of Hormuz were to reopen, the war would not be over.Wars do not end when the missiles stop flying.
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