April 24: Impact of Middle East War on International Economy, Financial Markets, and Livelihoods
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The ongoing Middle East conflict is having widespread repercussions on the global economy, accelerating inflation in Japan, causing commercial activity contraction in the Eurozone, and potentially increasing the UK government's borrowing costs. The instability also affects oil prices and shifts global trade patterns, as seen with Iran collecting tolls in the Strait of Hormuz and India's increased cotton yarn exports to China.