Asian Spectator

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War in Middle East brings uncertainty and higher energy costs to already weakening US economy

  • Written by Michael Klein, Professor of International Economic Affairs at The Fletcher School, Tufts University

The “fog of war” refers to confusion and uncertainty on the battlefield and the attendant possibility of fatal error. This principle has a parallel when it comes to the economic consequences of wars as well, especially when they occur in a region that is a chokepoint for the production and shipment of one-fifth of the world’s oil...

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