In the last few weeks, we’ve seen a new danger for global markets. The raids of the Houthi, a Yemenite rebel militia supported by Iran, have blocked one of the arteries of global commerce: the Red Sea route on which 12 percent of global wares and about one third of containers travel. Several shipping giants have suspended the passage of ships in the area. The price of oil is rising, while the costs of transport between Asia and Europe are soaring. The latest emergency is worsening the crisis of international balance in the frame of a general trend that, along with the Sars-Cov-2 pandemic, is turning the twenties of this century into the age of de-globalization.

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