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Countries already walloped by a breakdown of the international trading order, war in Ukraine and chaotic U.S. policymaking are facing potentially lasting economic damage.
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With attacks and threats, Tehran is using the world's most important transit point for oil and gas as leverage against its enemies.
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The Iran war shows that despite President Trump's rejection of globalization, the world economy still relies on international links.
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Pressure has intensified on the strait, one of the world's most important shipping lanes, since Israel and the US attacked Iran late last month.
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