BNP Paribas: The wide-ranging impact of the Middle East conflict is sufficient to hurt the global economy

```htmlGolden Ten Data reported on April 29 that Paul Hollingsworth, Head of Developed Markets Economic Research at BNP Paribas, stated during a webinar that the impact of the Middle East conflict is already broad enough to damage the global economy. He pointed out: "A structural rise in energy prices will squeeze consumers' real income. Increased uncertainty and declining risk appetite may drag down consumption and investment." Although oil shocks usually create winners and losers—for example, increasing the income of energy-producing countries and reducing that of energy-consuming countries—the negative impact is more significant. He noted that the reduction in spending by energy-consuming countries often outweighs the increase in spending by energy-producing countries. Therefore, this is a net negative impact on the global economy.```