The Iran war is giving rise to a centuries-old economic theory—and laying waste to the WTO-based world order

The Iran conflict is reviving centuries-old economic theories that challenge the current WTO-based global trade system. This shift suggests a potential restructuring of international economic relationships away from multilateral trade frameworks toward more traditional economic models.

• →Military conflicts are driving a revival of historical economic theories that predate modern globalization.
• →The WTO-based world order faces significant challenges from geopolitical tensions and warfare.
• →Traditional economic models are gaining relevance as alternatives to current international trade systems.
• →Geopolitical instability is accelerating the breakdown of established multilateral economic frameworks.
• →The shift away from WTO principles could reshape global trade relationships fundamentally.