Global economy faces widening strains as West Asia war intensifies

The economic fallout from the war in West Asia is spreading outside the region.Persian Gulf ports have turned into military targets. The vital Strait of Hormuz is effectively closed, sending fuel costs and shipping rates soaring.Vessels can’t reach a container hub that handles more volume than Rotterdam between four continents. Air cargo halted for a week will need time to work through backlogs as local carriers look to resume flights soon.The conflict between the US-Israel alliance and Iran is intensifying ...