#economic collapse

#economic collapse

We were always shackled [by Israel], Sehwail said quietly. But one period was less harsh than another. Even before October 2023, when Israel started its genocidal war on Gaza, the Palestinian enclave's fishermen operated under heavy restrictions imposed by Israel. Fishing zones were repeatedly reduced. Maritime boundaries outlined in agreements since the 1993 Oslo Accords were rarely implemented on the water.

The core of the argument is that agentic AI will replace human labor in most white-collar industries and will do so with dizzying speed. The consequent abrupt and massive job displacements will lead to crashes in property values and local tax bases, with devastating impacts on communities and much of the public sector.

I have not touched a paper note for months. I don't even have money to pay for a taxi. Now we walk a lot, for long distances. Palestinians in Gaza use the Israeli currency, the shekel, in their daily transactions, and depend on Israel to supply banks with new banknotes and coins.

The economy of the occupied Palestinian territory is facing its most severe collapse on record, driven by the scale of Israel's genocidal war on Gaza and continued restrictions on movement and trade, according to a new United Nations report. Published on Monday, the report by the UN Conference on Trade and Development (UNCTAD) said two years of Israeli military operations and longstanding curbs have pushed the occupied territory into an economic downturn now ranked among the 10 worst collapses recorded globally since 1960.