Global trade just flipped into war mode. U.S. forces now control the Strait of Hormuz, turning back Iranian-bound vessels while reopening the channel under American terms. China has issued a sharp warning. At the same time, a new defense agreement with Indonesia secures U.S. access over the Strait of Malacca — the artery carrying nearly a quarter of the world’s oil and vast Asian trade. From Egypt’s blackout economy to India’s hidden stabilization fund and Russia’s gold export ban, governments are treating physical chokepoints as the new frontline. Predictability is over. Listen as we connect the dots on how control of these straits is reshaping the global economy. Support independent reporting and keep this work going: https://seanmorganreport.substack.com Learn more about your ad choices. Visit megaphone.fm/adchoices