Shocks become a habit // Kristina Borovikova on the speed of countries’ adaptation to trade conditions
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Over the past few months, international economic organizations and supranational groups have been trying to understand the impact of the conflict in the Middle East on the global economy and, in particular, world trade. Close attention to the economic consequences of the war is understandable: about 35% of global oil exports and 13% of natural gas pass through the region. However, as analysts’ calculations show, the impact of the conflict is still concentrated in a limited number of states—and the EU and the United States are not among them. This idea is contained, for example, in the IIF expert review published late last week.
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