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Mainstream, Vol 64 No 8, March 19, 2026

Geopolitical Conflicts, Development Crises, and the Second Contradiction of Capitalism | K. Sahadevan

Thursday 19 March 2026, by K. Sahadevan

A small glitch in geopolitical dynamics reveals just how fragile our global economy truly is. The vulnerabilities of the development edifices we have constructed are now starkly evident. It is undeniable that the US war of aggression against Iran has created major cracks in global supply chains.

The war in the Persian gulf is in full swing.The movement of goods through the Strait of Hormuz remains blocked for now. Difficult to say when the return to ’normal’, potentially allowing supply chains to recover, the disruptions have already inflicted strain on various economies and will have long-lasting consequences. While our immediate concerns focus on resources directly affecting ordinary people