Political actions may be accelerating the process, but the collapse of globalization was inevitable. The primary driver is a global demographic picture where aging populations and declining birth rates mean there are not enough young people to sustain the consumption required for global trade.
Before the conflict, Iran maintained a "credible but not actual" nuclear program as a deterrent. By assassinating the supreme leader and launching an air war, the US has proven this strategy insufficient, forcing Iran to pursue an actual nuclear weapon for survival.
Previously a remote possibility, direct military intervention in Iran creates a scenario where an unconditional surrender is demanded. This leaves Iran with little to lose, making the use of a nuclear weapon a logical defensive step, likely delivered via a cargo ship to a major US port.
The US is a services economy that designs systems but lacks the industrial plant to build them. A global supply chain collapse would force a rapid reshoring effort, but this would happen during a massive shortage of the very components and materials needed to build that capacity.
Even a brief closure of the Strait of Hormuz has immediate, lasting effects. Shutting in millions of barrels of oil and LNG damages production facilities, which can take over 60 days to bring back online, ensuring a recession even if the conflict ends quickly.
Iran can produce cheap Shahed drones weekly, while the US produces expensive PAC-3 interceptors annually. This massive production disparity means defense systems can be quickly depleted, leaving critical infrastructure like oil fields vulnerable.
The loss of Persian Gulf oil is a fatal blow to the manufacturing-based economies of Europe and China. China lacks energy alternatives, and Europe's green tech isn't sufficient. This single event could trigger the simultaneous collapse of the world's two largest manufacturing zones.
Starlink's ability to grant or revoke its service in a conflict zone directly impacts a military's command and control. By changing its policies, Starlink single-handedly gutted Russia's battlefield communications, demonstrating how private firms now control critical levers of war.