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Markets are up as the wars in Ukraine and Iran are merging.
On one side, Europe and the US are using Ukraine to attack Russia, while China is allied with the latter.
On the other side, we have Russia using Iran as the tip of the spear into the US and Europe, while China allies with the former.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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