The Fallout of Escalating Iranian-Israeli Tensions
Programmes
17 Apr 2024

The Fallout of Escalating Iranian-Israeli Tensions

The Iranian Revolutionary Guard's Air Force made a historic move by launching a direct assault on Israel in an operation dubbed "The True Promise," marking the first instance of such an attack originating from Iranian territory. Late on Saturday, April 13, 2024, Israeli cities were subjected to a relentless barrage of drones and ballistic missiles, signalling a significant escalation in tensions between the two nations. This offensive action follows Iran's earlier pledge to retaliate against Israel for its targeting of the Iranian consulate in Damascus, an incident that resulted in the deaths of seven Revolutionary Guard members, including two high-ranking leaders, on April 1.   This calculated escalation underscores Iran's unwavering commitment to defending its sovereignty and national interests while bolstering regional security. The global spotlight now shifts to the scale, sophistication, and broader implications of Iran's strike against Israel.   The Iranian assault on Israeli soil marks a pivotal moment in the ongoing conflict between the two adversaries, thrusting their hostilities from the shadows into the open arena of direct confrontation.   Against this backdrop, the Israeli response hinges on several key factors. Firstly, the extent to which Iranian proxies, such as the Houthis and Hezbollah, may actively participate in the conflict will influence Israel's strategic calculus. Secondly, the response will be shaped by the presence or absence of casualties among Israeli forces, as well as the effectiveness of its defence systems, bolstered by support from the United States, in mitigating potential damage. Lastly, how Israel opts to retaliate will be of paramount importance in determining the trajectory of the conflict.   Consequently, this analysis aims to elucidate the attack's ramifications and its economic repercussions on the parties involved in the conflict.
Return of Protectionism: The US War on Globalization
Programmes
20 Feb 2023

Return of Protectionism: The US War on Globalization

Following the First and Second World Wars, the world order was founded on open international trade to ensure peace and security. Where the major powers realized that the two world wars occurred as a result of international competition over resources and markets, and therefore the Bretton Woods system came intending to establish a stable international monetary system that encourages global economic cooperation. Its main objective is to avoid the destabilising effects and competitive devaluations of currencies that were used in the period between and before the two world wars, to provide a framework for the free international exchange of goods and services, and to promote economic growth and stability in the long term.