(ProsperNews.net) – Billionaire investor Ray Dalio said he believes there is a 50-50 chance the conflict in the Middle East could develop into World War Three. In an article entitled “Another Step Toward International War,” Dalio wrote that the conflict between Israel and Hamas that started on Oct. 7 could spark more regional disputes, and even spread to the United States and Europe. He said the odds of “a more uncontained hot world war” have risen from 30% to 50%.
Dalio, who has served as the co-chief investment officer of the world’s largest hedge fund since 1985, said the two major wars currently taking place – namely Russia’s war with Ukraine and Israel’s war with Hamas – are likely to continue until a “brutal” end, and if these spread to the developed world, “there will be a much more horrific hot world war.” He called on all nations to exercise restraint before violence spirals out of control and urged leaders to recognize “this critical juncture of being on the brink.”
The Ukraine-Russia war is now in its second year, and fighting shows no sign of abating. The US continues to promise its support for Ukraine, although many Republican voices have expressed trepidation. In military terms, Russia has increased its numbers in the Kupiansk-Lyman area as Moscow’s troops prepare for “serious offensive actions.”
Ukraine’s ground forces commander Oleksandr Syrskyi said fighting had “significantly escalated” in the first weeks of October, adding that Russia is trying to “break through our troops’ defenses and recapture our territory.”
Meanwhile, Israel faced pressure from world leaders, including President Biden, to show restraint as it prepared for a ground invasion of the Gaza Strip. In the weeks that followed Israeli Prime Minister Benjamin Netanyahu’s declaration of war, the Jewish state warned Palestinian civilians to leave the area, but neighbor Egypt would not take them in, and some reports say Hamas has prevented its people from getting to safety to gain a propaganda victory over Israel.
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