Strait of No Return: The World Teeters on the Edge of a Recession The global economy teeters on the brink of disaster as Mohamed El Erian warns that weeks remain before a full blown recession sets in.
This precarious situation is exacerbated by the ongoing blockade in the Strait of Hormuz, a narrow waterway connecting the Persian Gulf to the open ocean.
Since February 28, when US and Israeli strikes were launched against Iran, the Strait has been largely blocked.