Wars, crises, chaos: knock-out for the global economy?

In the summer of 2025, the global economy finds itself in a phase of heightened uncertainty, shaped by geopolitical tensions, volatile commodity markets, and diverging eco-nomic forecasts. While international institutions have re-vised their global growth projections downward and the recent escalation of the Israel-Iran conflict has fueled fears of a broader conflagration in the Middle East with further negative repercussions for the economy, several factors nevertheless argue for a less pessimistic assess-ment of the global economic situation.