Asian economies should strengthen policy frameworks and focus on stabilisation measures as the ongoing conflict in the Middle East threatens the region's energy, trade, and financial resilience, according to Albert Park, Chief Economist of the Asian Development Bank (ADB).
Escalating tensions due to the West-Asia conflict involving Iran have heightened risks to global energy supply chains, particularly around the strategic Strait of Hormuz, raising concerns for major Asian importers, including India, according to a report by Goldman Sachs.