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What are the real economic consequences of the current war - and are the “doomsday” predictions justified?

In this episode of The Thinking Muslim, we are joined by Mehreen Khan to explore the global economic shockwaves triggered by the Iran war and what they reveal about the future of power, finance, and geopolitics. From the resilience of sanctioned economies to the vulnerabilities of Gulf states, this conversation examines whether we are entering a new era of fragmentation and economic realignment.

We ask difficult but necessary questions:
Are Gulf Arab states truly stable? Why didn’t energy get used as leverage during Gaza? Is liberal capitalism reaching its limits? And are we witnessing the early foundations of a more independent and coordinated Muslim economic bloc?

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Disclaimer:
The views expressed in this video are those of the individual speaker(s) and do not represent the views of the host, producers, platform, or any affiliated organisation. This content is provided for lawful, informational, and analytical purposes only, and should not be taken as professional advice. Viewer discretion is advised.

00:00 – Introduction
01:15 – A deep dive into the economic impact of the current war: a doomsday assessment
05:44 – Are we heading toward a crisis in the West?
08:50 – Structural economic crises and the rise of the far right
11:50 – Have we reached the end of liberal capitalism?
16:35 – The accumulation of power: why geography matters
19:40 – Gulf Arab states: bastions of stability?
29:35 – Why didn’t Gulf states use energy as leverage over Gaza?
36:25 – A lesson for the Gulf states: diversifying away from the U.S.
41:35 – Dollarised economies and oil producers: moving away from the dollar
52:21 – Have economic sanctions prepared Iran for this moment? (Decoupling from global supply chains)
01:01:58 – The potential of a unified Islamic economic civilisation