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It's a significant statement from anyone, let alone Dr. Ngozi Okonjo-Iweala, the director-general of the World Trade Organization. She warned at the Fortune Global Forum in Riyadh that the global economy is in its choppiest waters since the 1930s, no small feat considering that decade saw the Great Depression and the outbreak of the Second World War - and the Great Recession of 2008 is still in living memory.
In her curtain-raiser speech for the gathering, Georgieva rightly pointed out the global economy has proved more resilient than some feared at the time of the spring meetings in April, when the world's policymakers were transfixed by the chaos emanating from the White House. Part of the reason for that has been front loading: Trump's intention to jack up tariffs was no secret, and many companies ran up inventories in advance and started to rejig their supply chains.
The tomb effigy of a French crusader from the thirteenth century preserves a surprising secret: a carved copy of a Chinese sword which belonged to the knight. The question of how a Chinese sword ended up on the tomb has fascinated scholars for decades. It is a story that speaks to the influence of global travel, crusading warfare, trade and plunder, inviting us to reconsider the Middle Ages as more globally connected than often imagined.
Recent dovish remarks from Fed Governor Waller reinforced expectations of future rate cuts, potentially boosting silver prices as market participants anticipate monetary easing.
"There is a very significant difference between baseline 10pc tariffs and an extraordinary level of tariffs of 30pc on the European Union," Mr Harris said.
President Donald Trump's unprecedented decision to bomb three Iranian nuclear sites has deepened fears of a widening conflict in the Middle East. Analysts suggest that Iran may retaliate by closing the Strait of Hormuz, a crucial trade route for global oil supply.
"Closure of the Strait is on the agenda and will be done whenever necessary," said Revolutionary Guards Commander and lawmaker Esmail Kosari, confirming Iran's readiness to take immediate action.
Wael Sawan emphasized the careful management of shipping in the Middle East due to rising tensions, highlighting the significant uncertainty in the region caused by recent conflicts.
"Tariffs of the level suggested would not only push prices up, they would grievously damage one of the world's most dynamic and significant trading relationships, as well as disrupting wider global trade."