U.S. Treasury: The War in Gaza Poses a Threat to the Global Economy

U.S. Treasury Secretary Janet Yellen announced at a press conference following a meeting of finance ministers in San Francisco that the finance ministers of the Asia-Pacific Economic Cooperation (APEC) forum agreed that the escalation of the Israeli-Palestinian conflict poses a threat to the global economy, as reported by Sputnik. She stated, "We discussed the risks surrounding the global economic outlook, and I believe there was a shared view that we all need to do everything we can to contain the conflict between Israel and Hamas to prevent it from turning into a regional war." She added, "If the ongoing conflict escalates into a regional war, it could pose risks to the global economy." An increasing number of experts have warned about the dangers of the conflict expanding in the Middle East following recent developments regarding Gaza, noting that the current situation may herald a devastating large-scale war.