Iran War | Political & Economic Impacts

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nycfan said:


🎁. The World Is Paying the Price for America’s War
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“… PAKISTAN HAS garnered headlines for mediating peace talks between the United States and Iran, but what has received less attention is how much Islamabad needs the war to end. Pakistan imports 80 percent of its energy from the Gulf. The conflict in the Middle East sent petrol and diesel prices in Pakistan to record highs. As a result, Islamabad instituted a four-day workweek for government offices, ordered half its federal staff to work from home, shuttered schools for two weeks, and asked cabinet ministers to forgo two months of salary. Meanwhile, Pakistan was forced to turn to Saudi Arabia for a $3 billion bailout as it struggles to service debt payments and liquidity commitments made to the International Monetary Fund (IMF).

Pakistan’s woes are reflected across South Asia. Bangladesh, which imports 95 percent of its energy needs and holds less than a month’s worth of reserves, has imposed daily limits on fuel sales amid panic buying. Dhaka shut universities and ordered shopping centers to close by 8 in the evening. Local prices for liquefied petroleum gas (LPG), which is used widely from cooking to powering rickshaws, are up by nearly half since the start of the conflict. For a garment worker earning the equivalent of $4 a day, a 50 percent rise in the price of cooking gas translates to painful daily sacrifices.

Sri Lanka, too, has moved to a four-day workweek. In Nepal, transport strikes have driven up the price of rice and vegetables in a country where rural households already spend more than half of their income on food. Even Bhutan, the self-proclaimed happiest nation in the world, has long queues at its gas stations.

India, the world’s third-largest oil importer and sixth-biggest economy, has more room to maneuver than its neighbors. Ahead of state elections this month, New Delhi cut taxes on petrol and diesel to protect consumers from price increases, absorbing a hit to its national balance sheet. Even so, the country’s 1.4 billion people have been deeply affected by the conflict. India imports 90 percent of its LPG from the Gulf, and shortages have forced restaurants across the country to ration usage and slow business. The country’s benchmark stock market has plunged by 8 percent since the start of the year, and its economic output is expected to decline by around a percentage point because of the conflict. India also imports a quarter of its fertilizer from the Middle East, raising the prospect of a food crisis in what remains a largely agrarian economy.…”
 
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🎁. U.S. Considers Financial Support for Oil-Rich U.A.E.

“… Some economists have suggested that the request appeared to be a political signal, intended to solicit a demonstration of support from the country’s chief ally, and that it was not a financial necessity. The Emirati currency is pegged to the dollar, and the country’s central bank still has ample reserves, despite the disruption to oil exports that the war has caused.…”
 
nycfan said:
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Slightly off-topic, but if you are getting your "news" from someone that in a single tweet uses two siren emojis, two fire emojis, an eye emoji, an explosion emoji, nearly all caps, and phrases like "A COUP IS IN THE WORKS" and "ONE WRONG MOVE AND IT ALL IGNITES," you are not a serious person forming serious opinions. You are being fed scare-bait-tainment based on current events. How ridiculous is that tweet??
 
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