By SIMON CONSTABLE
There’s bad news ahead for the global economy if Western powers cannot stop the Iran-backed Houthi rebels from threatening commercial shipping in the Red Sea, a recent report states.
Under a pessimistic but theoretical scenario world GDP drops by 0.4% this year, according to a paper from the Washington DC-based Institute for International Finance.
It warns of the need for the West to defeat or contain Houthi rebels who are attacking shipments heading towards the Suez Canal. Read more here.
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