The World Urgently Needs a US Iran Deal Now The stakes are high in the standoff between the US and Iran over the Strait of Hormuz, but this is not primarily a military confrontation.
It's an economic crisis waiting to happen, with far reaching implications for energy markets, food prices, and living standards worldwide.
At its core, the world economy remains precariously exposed to narrow geopolitical chokepoints like Hormuz, where disruptions can have catastrophic consequences.