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مصراوي
Rania Al-Mashat on Risks to Global Economy from Maritime Disruptions
The article focused on the risks associated with disrupting maritime passages and their impact on the global economy, particularly in the Gulf region and the Strait of Hormuz, which are some of the most vital transit points for oil and natural gas. It highlighted that the current crisis has revealed the importance of geography in global trade movement, and that disturbance in any part of the maritime transportation system can lead to severe repercussions, including rising energy and food prices and a slowdown in trade activity. It mentioned that the cost of the conflict in the first month amounted to approximately $150 billion, equivalent to about 4% of the regional GDP, with warnings about effects that go beyond just closing passages, such as risks to shipping companies, insurance sectors, and consumers. Rania Al-Mashat proposed strengthening regional readiness, implementing protective measures for the passages, and increasing investments in ports and transportation networks to mitigate supply chain disruptions. She emphasized that regional cooperation can turn this geographical position into a strength in safeguarding the pathways of global economic development.
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