What Really Matters with Walter Russell Mead
Biden’s Suez Crisis
Dec 22, 2023
This podcast discusses Iran-backed attacks on global commerce, the increasing presence of older Americans in the workforce, the resurgence of US shale oil, and provides Christmas music recommendations.
36:57
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Quick takeaways
- Iran-backed attacks on global shipping flows in the Red Sea have led to the formation of a naval coalition by the Biden administration for protection.
- The presence and contribution of older workers in the labor force are increasing, posing positive news but potential challenges for younger generations.
Deep dives
Naval crisis in the Red Sea threatens global trade
A naval crisis is unfolding in the Red Sea, where over a thousand miles from the Gaza conflict, Iran-backed Houthi militants in Yemen have been escalating their attacks on global shipping flows. As a result, major container shipping companies have suspended services in the Red Sea, disrupting the trade route through which traffic from the Suez Canal must pass. In response, the Biden administration has formed a naval coalition involving 10 countries to protect commercial shipping in the region. The US is considering possible military strikes against the Houthi militants but is also seeking diplomatic solutions.
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