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Trade’s new fault lines
EDITORIAL: The long-term cost of war extends beyond the destruction it causes and the trade it immediately disrupts. It also changes how countries and businesses source goods, move cargo and assess risk. World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala made this point in a recent interview on the side-lines of the annual meetings of the IMF and World Bank, warning that the wars in the Middle East and Ukraine would leave a lasting imprint on global trade flows. Her warning merits serious attention. The Iran war has sharply contracted Middle Eastern trade, with the WTO forecas...
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