‘Wars as headwinds and economic opportunities’An Israeli army M109 155mm self-propelled howitzer fires rounds near the border with Gaza in southern Israel on October 12, 2023. The Israel war with Hamas, which has put the Middle East on war alert, could lead the global economy into greater uncertainties. The Israeli war against Hamas could only contribute to the heightening of concerns about global energy supplies. Such is the grave danger of the current Israeli Hamas war. The two hot wars brought about – on the economic front – the rise of global demand for commodities that enabled many countries in East Asia to accelerate their economic growth during the period.
