Iran and Ukraine: Narrow World

> If you think about it, the world’s not that wide. It only feels that way on maps. It gets pretty narrow at key pressure points like the thin ribbon of water called the Strait of Hormuz. The global economy likes to think it “breathes” through this over-tight passage. But listen carefully and you can hear it gasp—tankers inching through with creaking trepidation, markets peering at the horizon, traders watching pulsing radar screens like heart monitors.