War without borders

The recent conflicts in Gaza, Ukraine, and the rising tensions involving Iran have painted a grim picture, not just politically and socially, but economically as well. These wars may be fought in specific regions, but their economic shockwaves are felt across the globe.

Global trade routes have been disrupted, especially in the energy and agricultural sectors. Oil and gas prices have surged due to instability in the Middle East, affecting everything from transport to electricity bills. The war in Ukraine has restricted grain exports, worsening food insecurity in many parts of Africa and Asia. Inflation is rising, interest rates remain high, and international business confidence is declining.

Multinational companies are delaying investments, and local businesses are being forced to cut jobs due to higher costs and supply shortages. From stock markets to small shops, the damage is widespread. This is not just a regional issue; it's a global economic emergency.

The longer these conflicts persist, the deeper the scars will be on fragile economies still recovering from the COVID-19 pandemic. Against this grim backdrop, world leaders must prioritise diplomatic efforts and international cooperation to stop these conflicts before they deepen the economic wounds of the world.

Yana Islam Rifa

Bachelor of Business Administration

North South University

yanaislamrifa@gmail.com