Can Yemen's Houthi rebels, with their shelling of container ships, really cause the entire world economy to take a hit? That world trade declines, and prices in supermarkets and energy markets go up again?
That depends on two things: how long the conflict lasts and whether it will spread in the region. As a show of support for Gazans now under fire from Israel, the Houthis are attacking Western container ships in Bab al-Mandab, a narrow passage that empties into the Red Sea.
Initially, many analysts still thought the rebels would not sustain their fight for long. "But so far the situation keeps escalating," says energy specialist Hans van Cleef, of consultancy Publieke Zaken. Each time in small steps, he adds, but still: tensions are increasing rather than decreasing.
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