{"id":41799,"date":"2026-04-06T13:05:13","date_gmt":"2026-04-06T17:05:13","guid":{"rendered":"https:\/\/www.furman.edu\/news\/?p=41799"},"modified":"2026-04-06T13:13:05","modified_gmt":"2026-04-06T17:13:05","slug":"francis-kim-talks-stagflation-and-the-strait-of-hormuz","status":"publish","type":"post","link":"https:\/\/www.furman.edu\/news\/francis-kim-talks-stagflation-and-the-strait-of-hormuz\/","title":{"rendered":"Francis Kim talks stagflation and the Strait of Hormuz"},"content":{"rendered":"<p>Furman University&#8217;s <a href=\"https:\/\/www.furman.edu\/people\/francis-kim\/\">Francis Kim<\/a>, associate professor of finance and a regular contributor to the <a href=\"https:\/\/koreajoongangdaily.joins.com\/news\/2026-04-02\/englishStudy\/bilingualNews\/Is-Hormuz-a-prelude-to-stagflation-KOR\/2560099\">Korea JoongAng Daily<\/a>, writes about the situation in the Iran-controlled Strait of Hormuz compared to the 1973 Syrian and Egyptian attack on Israel to reclaim the Suez Canal and the Golan Heights. Following the U.S.&#8217;s involvement in the conflict to bolster Israel&#8217;s military capacity, Saudi Arabia led a nine-nation oil embargo on the U.S. and its allies, which led to a raft of consequences.<\/p>\n<p>Kim warns that shock to global oil supplies due to the Strait of Hormuz&#8217;s closure risks triggering stagflation and notes the vast difference in scale between the two geopolitical events. &#8220;The 1973 embargo cut about 4.5 million barrels per day,&#8221; he writes. &#8220;In contrast, disruptions linked to Iran\u2019s closure of the Strait of Hormuz have reduced supply by roughly 20 million barrels per day.&#8221; Kim says the lesson is clear: &#8220;Supply disruptions often begin underestimated, but their costs exceed expectations.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a Korean paper of record, Furman Associate Professor of Finance weighs in on the closure of the Strait of Hormuz and compares it to the Saudi-led oil embargo of the 1970s.<\/p>\n","protected":false},"author":257,"featured_media":41471,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20,6,2631,3524],"tags":[],"class_list":["post-41799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-accounting","category-in-the-news","category-the-joongang","category-the-korea-joongang-daily"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/posts\/41799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/users\/257"}],"replies":[{"embeddable":true,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/comments?post=41799"}],"version-history":[{"count":3,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/posts\/41799\/revisions"}],"predecessor-version":[{"id":41804,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/posts\/41799\/revisions\/41804"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/media\/41471"}],"wp:attachment":[{"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/media?parent=41799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/categories?post=41799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.furman.edu\/news\/wp-json\/wp\/v2\/tags?post=41799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}