Strategic Importance of the Middle East: Impact on World Trade and International Relations

2023-10-27 17:51:52

At the crossroads of three continents, the region is a real hub for international trade, particularly thanks to the Suez Canal which occupies a strategic space on the maritime freight scene. – / AFP

With the entry into war of new belligerents, the main maritime route linking Europe to Asia might be threatened. Enough to fear significant consequences for world trade.

HAS “those who would seek to widen the conflict […], our advice is “don’t do it”. We preserve our right to defend ourselves and we will not hesitate to act accordingly“, warned Lloyd Austin, the American Minister of Defense, last Sunday. Proof, if any were needed, of the risks of conflagration in the Middle East. And the war between Israel and Hamas might well set fire to this powder keg. Especially since the second incursion of the Tsahel into Gaza during the night of Thursday to Friday followed by the intensification of bombings since Friday evening suggest that the conflict is entering a new phase.

«There are a whole series of possible scenarios. In some, the damage would be tragic, but limited. In others, key dominoes would fall and set off a chain reaction leading to a regional conflagration, or even worse.», noted Michael Everyn, the director of strategy of the international financial institution…

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