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In One Chart: One chart breaks down what will happen to the global economy if war with North Korea erupts

While a nasty military engagement still seems rather unlikely, tensions between the U.S. and North Korea aren’t exactly easing lately. In fact, the U.N. just adopted new sanctions against the “Hermit Kingdom” this week, prompting the regime to threaten the U.S. with “the greatest pain and suffering.”

“Pain and suffering” with regard to human life, of course, tops the list of concerns, but the impact on the global economy could have dire implications, as well.

Oxford Economics put their thoughts together in one chart breaking down the possible economic scenarios should the U.S. and North Korea square off.

And it’s not pretty:

“While a military conflict on the Korean peninsula still remains highly unlikely, our modelling suggests that even a very short-lived conflict could have a material impact on growth around the world and trigger major asset price realignment,” writes Jamie Thompson, Oxford’s head of macro scenarios.

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