What the Israel-Hamas War Means for the World Economy
Palestinians are already reeling, but a wider conflict could trigger a surge in oil prices.
The latest war in the Middle East is both a historical tragedy and an ongoing humanitarian crisis. At least 1,200 Israelis died during the attack launched by Hamas on Israel last Saturday; an equal number of Palestinians died in the first days of Israel’s retaliatory bombing. The death toll on both sides has only risen. The Israeli government has imposed a full siege on the Gaza Strip and called for more than 1 million civilians to evacuate the northern half of the territory. A ground invasion—involving many of the 360,000 Israeli reservists called to action—seems imminent.
Cameron Abadi is a deputy editor at Foreign Policy. Twitter: @CameronAbadi
Adam Tooze is a columnist at Foreign Policy and a history professor and the director of the European Institute at Columbia University. He is the author of Chartbook, a newsletter on economics, geopolitics, and history. Twitter: @adam_tooze
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