labels: Middle East wars
ADB warns Asia faces prolonged inflation until 2570; war and El Niño drive energy and food price increases.
The Asian Development Bank (ADB) forecasts inflation in the Asia-Pacific region at 4.2% this year, before slowing to 3.5% in 2570. It warns that a conflict in the Middle East and El Niño could exacerbate energy and food prices.Six months of Middle East conflict have shaken global markets; oil and food prices are soaring, but stocks are still being supported by AI.
Six months into the Middle East conflict, Brent crude oil prices surged past $120, impacting energy, food, and the Persian Gulf markets. Meanwhile, global stocks rose 9%, driven by AI investment.The fallout from the Middle East conflict has slammed Thai car exports, causing them to plummet 26%. The Federation of Thai Industries (FTI) points out that the domestic market has rebounded, driving a strong 61% surge in EVs.
The Middle East conflict and Australia's carbon footprint have dampened demand for finished vehicle exports, causing a sharp drop to 5.9 units. The domestic market is supporting the industry.Three months of conflict in the Middle East… changing the global game and leading to a new (and unfinished) economic system.
Three months of the Middle East conflict… a game-changing global event leading to a new (and unfinished) economic system. The tremors from the battlefield are spreading to energy prices, capital, and global decision-making.
