We are heading toward a worldwide depression. The closure of the Strait was a delayed action fuse. As the last of the ships that left the Strait at the beginning of the conflict finally arrive in Europe and North America (they already stopped arriving in Asia), the flame moving along the fuse string reaches the bomb. When that happens, the global economy explodes. We face massive price increases, and outright shortages and rationing in more than just oil. The verticals of energy, fertiliser, semiconductors, clothing, rubber manufacture, metals, and medicine all rely on goods that flow through the Strait. These are the foundations of our modern industrial-consumer economies. The effects will therefore be devastating. Far greater than the 2008 financial crisis, and closer to the Great Depression. Yet it is worse even than that. The failure will have been caused by the way the global economy has been set up: that is to say, to be globalised, where economic efficiency and overall growth and living standards have been prioritised over individual national resilience, and where the failure of certain nodes in the network can bring down the entire ediface. Therefore, the response of governments will be not simply to seek to mitigate the crisis, but to re-assess the fundamental construction of their economies. If this carries on, we are likely to see a forced re-wiring of the global system, where national control over key economic inputs trumps the efficiency of long global supply chains. Given not all countries can control within their borders all key inputs, this might well see conflict over those beyond national jurisdiction. While some of us have argued that such reforms have long been desirable, undertaking them in a high pressure environment, amid the social and political unrest this economic catastrophe will cause, is not a recipe for an orderly, peaceful and well considered transition. There is real danger here, and it is not something that the commentariat or national elites have yet grasped.