FLASH NEWS
World Chamber of Commerce warns: War in the Middle East could cause the worst industrial crisis in history!
2026-03-25 19:48:46 / EKONOMI&SOCIALE
A war in the Middle East could trigger the worst industrial crisis in history, the head of the World Chamber of Commerce warned today ahead of the World Trade Organization (WTO) Ministerial Conference in Cameroon.
“It is impossible to talk about the future of the trading system without recognizing the scale of the shock that is currently affecting the real economy,” said World Chamber of Commerce Secretary-General John Denton on a panel alongside WTO Director-General Ngozi Okonjo-Iweala.
The consequences of the war in the Middle East are already affecting many sectors, far beyond the Middle East, he said.
"The head of the International Energy Agency has warned that the world is facing an energy crisis worse than the oil shocks of the 1970s," Denton said.
"From a business perspective, we believe this could become the worst industrial crisis in history not only because of rising energy prices, but because industrial production itself is disrupted and disorganized due to shortages of gas and other commodities," Denton warned.
He added that the situation is already alarming: "major companies are cutting production, shortages are affecting energy, chemicals and other critical supply chains," Denton said.
The three-day 14th Ministerial Conference of the World Trade Organization and the meeting of representatives of the European Union and Cameroon will begin tomorrow in Cameroon.
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