Peace dividend remains world’s missing asset

From Gaza to Hormuz, old conflicts still exact a heavy toll on lives, trade and mkts

- By Palazhi Ashok Kumar

Too many cooks spoil the broth, says the old proverb. The Middle East offers a modern variation. Too many players, too many agendas and too many unfinished histories have turned the region into a tangled plate of geopolitical spaghetti.

Every power claims to hold a strand of the solution; each pull only tightens the knot. That knot has shaped global politics, energy markets and human destiny for nearly eight decades. Wars have been fought, dictators have risen and fallen, peace accords have been signed and oil has flowed through deserts and seas. Yet peace remains elusive because the region's deepest questions have never been answered. Every time tensions flare in the Middle East, oil traders react, investors hesitate and governments recalculate. Few regions exert such influence over global markets. Yet the roots of that influence lie in a history that remains unfinished.