Europe’s Inflation Trap Returns
For months, central bankers tried to convince themselves that inflation was dying peacefully. The post-pandemic shock was supposedly fading. Supply chains were normalising. Energy prices...
Tag: energy crisis
The Strait May Reopen, But America Leaves Weaker
For financial markets, the announcement of a provisional 60-day truce between the United States and Iran was enough to trigger relief. Oil prices collapsed nearly...
The Strait of Hormuz Remains Closed, and the World Is Beginning to Understand What That Truly Means
For weeks, markets convinced themselves that the Iran crisis would eventually follow the familiar modern geopolitical script. Escalation. Television drama. Diplomatic statements. Controlled retaliation. Gradual...
India Begins Defending the Rupee as the Emerging-Market Stress Cycle Returns
For years, India represented the favourite emerging-market story of global investors. Strong growth. Structural reforms. Digitalisation. Expanding middle class. Geopolitical neutrality. Demographic power. Now the...
China’s Reflation Was Imported Through the Strait of Hormuz
China has finally escaped deflation. Unfortunately, it did not do so through a heroic revival of domestic demand, a consumer renaissance, or the sudden rediscovery...
Iran, Hormuz and the War That Cannot Find Its Exit
The war in Iran has entered that dangerous phase where everyone claims to want peace, yet each side rejects the only proposals on the table....
The One-Page Peace and the Many-Page Failure
Washington is now offering Iran what it refused yesterday: a staged reopening of the Strait of Hormuz and a gradual lifting of the American blockade....
The Strait of Contradictions
Donald Trump has paused “Project Freedom” almost as soon as he launched it. The operation that was meant to guide trapped neutral ships through the...
The Blockade That Became a Trap
The American strategy in Iran was meant to be simple: apply pressure, choke the regime, force concessions, reopen the Strait of Hormuz, and then declare...