In this bulletin, we look at some of the regional implications of the ongoing Israel-Hamas conflict, analyse the threat that instability in the Middle East poses to global shipping, and share our outlook on labour strikes in the US for the coming year.
World news in brief
A roundup of key political violence developments globally. Read the article
Middle east and North Africa
Beyond Gaza: How current hostilities risk wider Middle Eastern instability
The Israel-Hamas conflict has caused profound reverberations across the Middle East, drawing in a range of state and non-state actors seeking to jostle for position in an environment of significant uncertainty and turmoil. Whether the Houthis in Yemen, Hezbollah in Lebanon, militant groups in Iraq and Syria, or state actors such as Iran and the US, each is driving a distinct agenda in the region. In this context, the risks of miscalculation have escalated exponentially. Read the article
Global
Rebels in the Red Sea: Houthi attacks threaten global shipping sector
The Yemen-based Houthi militant group’s aggressive actions towards ships travelling through the Red Sea following the outbreak of the Israel-Hamas conflict have exposed the vulnerabilities of global shipping operators accustomed to transiting the most direct route between Asia and Europe. Ships now round the Cape of Good Hope instead, adding to voyage times and prompting a range of knock-on impacts from growing freight rates to increased inflationary pressures in Europe. Read the article
North america
A call to action: An outlook for strikes in the US in 2024
2023 was one of the busiest strike years in the US for decades. While the strike action was successful in securing improved contracts for many workers, and popular support for unions has grown, labour market conditions in 2024 do not look to be as favourable to workers as those of the previous year. Even if further strikes emerge over the next 12 months, prevailing circumstances may dampen enthusiasm for downing tools going forward. Read the article
