Balanced News: WTO chief warns Israel-Hamas war could hurt global growth if conflict spills over

World Trade Organization (WTO) Director-General, Ngozi Okonjo-Iweala, has warned that the Israel-Hamas conflict could have a negative impact on global growth if it spreads to the wider Middle East region. She highlighted that the Middle East is a major source of energy, including natural gas and oil, which are crucial for global trade. Okonjo-Iweala expressed hope for de-escalation and peace, as economists have cautioned that an escalation of the conflict could disrupt the global economy, increase energy prices, and disrupt key trade routes. The WTO has already cut its trade growth forecast for 2023 due to a global manufacturing slowdown.