Global recovery hits jobs hard

The article addresses the repercussions of the Iranian war and the Gulf of Hormuz crisis on the global economy. The closure of the strait resulted in the loss of over 1.2 billion barrels of oil and damages exceeding $120 billion, with direct impacts on energy markets, increased inflation, and the loss of millions of jobs worldwide. It also indicates that reopening the strait will not quickly restore conditions to normal. The region is experiencing losses estimated in the trillions of dollars, with disparities among Gulf countries in their capacity to withstand shocks. The article emphasizes the importance of economic diversification and renewable energy as protective shields against future crises.

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