The White House, almost 7,000 miles distant, and the 24-mile Strait of Hormuz south of Iran serve as the two focal points of this issue. The International Monetary Fund (IMF) and World Bank’s spring meeting, which is being held in Washington, DC, just a short distance from the White House, provided the rest of the world with a rare chance to directly present its economic case to US President Donald Trump’s administration.
Speaking with most of the G7 finance ministers, certain central bankers, and some of the world’s leading financiers, I got the impression that they were unhappy that the rest of the world was bearing the expected but unintentional costs of the US’s choice to go to war.
Particularly outspoken about the “folly” and “mistake” of war “which is not ours” was Chancellor Rachel Reeves. Finance minister meetings, like the G20 breakfast, were solemn events. Participants said that the only country in the room expressing short-term confidence was the United States.
Particularly, Asian investors showed obvious concern “about real shortages of energy,” according to several there. US Treasury Secretary Scott Bessent appeared on US financial TV shortly after several worries were voiced over the breakfast table, assuring viewers that there was nothing to be concerned about. He predicted a quick recovery for the economy and markets.
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