A report by the insurance market Lloyd's of London revealed that the global economy could face losses of $ 14.5 trillion over 5 years, due to a geopolitical conflict that harms supply chains and the insurance market.
With more than 80 percent of the world's imports and exports, amounting to some 11 billion tons of cargo, at sea at any given time, the closure of major trade routes due to any geopolitical conflict is one of the biggest threats to the resources needed for any resilient economy. She warned that the economic impact would result from serious damage to infrastructure in the conflict zone and the potential for shipping lanes to be jeopardized. Wars in Ukraine and Gaza have already disrupted shipping routes in the Black Sea and the Red Sea.
