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Missouri and the World

world economy

Americas oil boom challenges Middle East dominance as global energy markets shift

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One of the more surprising consequences of the Iran war has been the resilience of global oil supplies, despite disruption around the Strait of Hormuz – the world’s most important oil shipping chokepoint.

While many analysts initially feared far more severe shortages and price spikes, growing oil production across North and South America has helped stabilize global markets and highlighted a broader shift taking place within the energy industry.

According to analysis published by The Conversation, countries including the United States, Brazil, Canada, Guyana and Argentina are rapidly increasing production and exports, helping offset supply disruptions from the Middle East. [Read more…] about Americas oil boom challenges Middle East dominance as global energy markets shift

Trump’s China diplomacy could weaken Russia’s influence

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The summit between President Donald Trump and Chinese president Xi Jinping last week was closely watched around the world, particularly in Moscow, where Russian president Vladimir Putin may have seen signs that improving relations between Washington and Beijing could gradually reduce Russia’s global influence.

While the meeting focused publicly on trade, technology, Iran and Taiwan, the broader geopolitical significance may lie in the possibility that the United States and China are attempting to stabilize one of the world’s most important relationships after years of growing tension.

For Russia, that could create new challenges. [Read more…] about Trump’s China diplomacy could weaken Russia’s influence

Even major oil producers are preparing for a post-oil future

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The decision by the United Arab Emirates to leave OPEC after nearly six decades may signal more than a disagreement over production quotas.

According to a new analysis published by The Conversation, the move reflects growing concern among some major oil-producing countries that the long-term future of global oil demand may be weaker than previously expected.

The UAE officially announced its departure from OPEC after 59 years amid rising geopolitical tensions, disagreements over production strategy and accelerating changes in the global energy market. [Read more…] about Even major oil producers are preparing for a post-oil future

‘Friendshoring’ could become the next phase of globalization

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As tensions between the United States and China continue reshaping the global economy, economists and policymakers are increasingly focusing on a new concept that could define the next era of international trade: “friendshoring”.

Rather than bringing manufacturing fully back home, countries and multinational corporations may instead shift production and investment toward politically friendly nations.

A new analysis published by The Conversation argues that friendshoring may allow globalization to continue in a different form, even as trade between the world’s two largest economies becomes more strained. [Read more…] about ‘Friendshoring’ could become the next phase of globalization