Lloyds of London has assessed that geopolitical conflicts are expected to impact supply chains significantly, potentially leading to economic losses of $14.5 trillion over the next five years. The report highlights how these tensions could severely disrupt global trade routes, destabilizing economic infrastructures and essential resources.
According to the report, 'With more than 80% of the world's imports and exports - around 11 billion tons of goods - at sea at any given time, the closure of major trade routes due to a geopolitical conflict is one of the greatest threats to the resources needed for a resilient economy.' This statement underscores the critical vulnerability of our trading systems amidst ongoing conflicts.
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