At the time, the actions of key actors in business and politics that triggered moments of extreme disruption were written off as anomalies whose impact could quickly be contained. This lingering complacency over the attractive power of globalization was also visible in the recent shock over attacks by Yemen’s Houthi movement on merchant shipping in the Red Sea. With the help of military aid from Iran, the Houthis have managed to seize most of northern Yemen, including the capital, Sanaa, and the crucial seaport of Hodeidah. Nevertheless, until recently, many observers believed that economic pressures might eventually encourage restraint among the Houthi leadership. Even India has dispatched naval vessels to the Red Sea.

Source: The North Africa Journal January 03, 2024 19:54 UTC