Charting the Global Economy: Broader Mideast War Risks Recession
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The conflict between Israel and Hamas risks embroiling other Middle East nations and has the potential of fueling another bout of inflationary pressures and even tipping the global economy into a recession.
Israel’s military is poised for a ground assault in Gaza to hunt down the militant group that slaughtered more than a thousand Israelis. Hezbollah threatens to open up a new front, and there are concerns war could spread to Lebanon and Syria. Should Israel come into direct conflict with Iran, oil prices would soar and global growth would drop.