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Ukraine crisis will hurt Asian economic prospects

Manu Bhaskaran
Manu Bhaskaran2/24/2022 12:03 PM GMT+08  • 10 min read
Ukraine crisis will hurt Asian economic prospects
Investors and businesses will have to be prepared for a rough ride in the next few months.
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Financial markets are right to be nervous about the Ukraine crisis and what it might mean for our part of the world. No one knows at this juncture just how the crisis will unfold but the portents are not good.

So, while Europe may seem very far away, the likelihood is that there will be unpleasant consequences for Southeast Asia’s economies. Risks to economic growth will be higher, but because inflationary pressures will also intensify, policymakers will face more challenges in achieving an optimal balance.

Moreover, the tensions in Europe reflect a broader political deterioration — in the more insecure world we now live in, Asian nations will have to divert more resources away from productive uses to national security.

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