Can Asian economies cope with the fallout from the Iran war?

"Fuel costs, inflation and debt pressures are testing Asian economies. Working from home. Fuel queues. Blackouts. This is the fallout from the war on Iran across Asia. Governments are scrambling to shield their economies from the worst of the energy crisis. Some are rationing fuel. Others are reintroducing subsidies or limiting exports altogether. And the longer the Strait of Hormuz remains disrupted, the worse it gets so much so for vulnerable economies."

"Rising oil prices are driving up import bills just as remittances fall and currencies weaken. Dollar-priced fuel, food, fertiliser and debt all have become more expensive, forcing governments to burn through reserves, borrow more or cut elsewhere."

Fuel costs, inflation, and debt pressures are straining Asian economies. Energy disruptions linked to the war on Iran are causing working-from-home shifts, fuel queues, and blackouts. Governments are responding by shielding economies from the worst of the energy crisis through rationing fuel, reintroducing subsidies, and limiting exports. Rising oil prices increase import bills while remittances decline and currencies weaken. Dollar-priced fuel, food, fertilizer, and debt become more expensive, forcing governments to use reserves, borrow more, or cut spending elsewhere. The longer the Strait of Hormuz remains disrupted, the more severe the impact becomes for vulnerable economies.

Read at www.aljazeera.com