Relations between Pakistan and Afghanistan have hit a historic low in recent months, after deadly cross-border clashes that left dozens of people killed. Important trade routes like Torkham and Chaman have since been closed. This has crippled trade, spiked prices and deepened the rift. The closure of Pakistan's border crossings with Afghanistan has also triggered a significant realignment in regional trade patterns, with India emerging as the primary beneficiary.
It's a significant statement from anyone, let alone Dr. Ngozi Okonjo-Iweala, the director-general of the World Trade Organization. She warned at the Fortune Global Forum in Riyadh that the global economy is in its choppiest waters since the 1930s, no small feat considering that decade saw the Great Depression and the outbreak of the Second World War - and the Great Recession of 2008 is still in living memory.
