politics
Tallying the global cost of the US-Israel war against Iran
From thousands of lives lost to an economic shock likely to plunge millions into poverty, the world is paying dearly
TL;DR
- The US-Israel war against Iran has led to thousands of deaths and injuries in Iran, Lebanon, Iraq, Israel, and among US military personnel.
- Global economic growth has been stunted, with the IMF and World Bank lowering forecasts, and economists estimating significant impacts on US economic growth.
- The war has caused a major disruption to the global oil market, leading to doubled jet fuel prices, flight cuts, and fears of damaging inflation.
- The conflict's impact cascades through chemical and fertilizer production, affecting food prices and potentially plunging millions into poverty.
- While energy companies and defense contractors profit, there is hope the crisis could accelerate a move towards renewable energy.