New York / London —
The war in Iran has delivered what economists call a “black swan” event — an unforeseen shock so destructive, no one is immune to it.
While the so-called kinetic war plays out in the Middle East, where hundreds of civilians have been killed, an economic earthquake is radiating outward from the Persian Gulf. Virtually everyone is about to feel its impact.
“No one’s a winner in this situation,” said Josh Lipsky, chair of international economics at the Atlantic Council.
The energy shock intensified this week after Iran
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