09.01.2024, 10:15
The risks to the global economy from the outbreak of the conflict over Taiwan have been calculated
Source: OREANDA-NEWS
OREANDA-NEWS The beginning of a full-fledged military conflict around Taiwan could lead to the loss of 10.2 percent of global GDP. We are talking about the risks of losing about $ 10 trillion, Bloomberg reports, citing its own calculations.
Analysts say that the total damage from the new hotbed of geopolitical tension will be much greater than from the conflict in Ukraine, the coronavirus pandemic and the global financial crisis of 2009. At the same time, the negative consequences of a potential military conflict in Taiwan will be felt by key sectors of the global economy, the study says.
One of the main reasons for such large-scale consequences is the fact that Taiwan occupies a leading global position in the field of semiconductor manufacturing. As a result of military operations, the production of laptops, tablets and smartphones may be under attack. In addition, the Taiwan Strait is "one of the most important trade routes in the world", and the increase in tension in this region may negatively affect the prospects for the development of global trade, experts warn.
Earlier, Politico presented a list with the most unexpected but likely events for 2024. Experts called the potential outbreak of hostilities in Taiwan one of the main risks. According to Matthew Burrows, Program Director of the Center for Strategic Forecasting at the Stimson Center, much of this issue will depend on the election results. If the presidential post is occupied by the candidate Lai Jing-te, this may be followed by the declaration of independence of the island and the outbreak of war between the United States and China.
Analysts say that the total damage from the new hotbed of geopolitical tension will be much greater than from the conflict in Ukraine, the coronavirus pandemic and the global financial crisis of 2009. At the same time, the negative consequences of a potential military conflict in Taiwan will be felt by key sectors of the global economy, the study says.
One of the main reasons for such large-scale consequences is the fact that Taiwan occupies a leading global position in the field of semiconductor manufacturing. As a result of military operations, the production of laptops, tablets and smartphones may be under attack. In addition, the Taiwan Strait is "one of the most important trade routes in the world", and the increase in tension in this region may negatively affect the prospects for the development of global trade, experts warn.
Earlier, Politico presented a list with the most unexpected but likely events for 2024. Experts called the potential outbreak of hostilities in Taiwan one of the main risks. According to Matthew Burrows, Program Director of the Center for Strategic Forecasting at the Stimson Center, much of this issue will depend on the election results. If the presidential post is occupied by the candidate Lai Jing-te, this may be followed by the declaration of independence of the island and the outbreak of war between the United States and China.
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