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Expert: Ongoing wars impact global economy
The article examines the significant impacts of ongoing wars and conflicts on the global economy, particularly the U.S.-Iran war, the Russia-Ukraine war, and the trade war initiated by Trump. It points out that rising energy prices are among the main pressures on industrialized countries, noting that the UK has experienced an inflation rate of 2.6%, which is expected to reach 3.2% by the end of 2026. It also clarifies that European banks are suffering from both imported and domestic inflation, resulting from higher energy costs, increased wages, and declining productivity. The article mentions that the UK faces a chip shortage crisis and highlights the use of advanced drone technology in the ongoing war between Ukraine and Russia, which increases the need for foreign investments to boost economic growth. Meanwhile, experts warn that raising interest rates could harm major economies.
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