RIO DE JANEIRO — Six months into the devastating war involving Iran, the ongoing standoff and closure of the Strait of Hormuz continue to violently rattle the global economy. While international traders, financial institutions, and governments frantically monitor the maritime chokepoint for signs of military escalation, households and corporations worldwide…
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By Arvind Subramanian July 13, 2026 For decades, the global economic narrative has been tethered to the pulse of Washington, D.C., and the boardrooms of Wall Street. Analysts, policymakers, and historians alike have traditionally viewed the United States as the gravitational center of the global economy—the primary architect of trade…