ADB: Escalation of Middle East Situation Weighs on Asian Economic Outlook

According to Jinshi reports, Albert Park, Chief Economist of the Asian Development Bank, stated that the end of the ceasefire in the Middle East has darkened the outlook for developing economies in Asia. The escalation of conflict will drive up energy prices, intensify inflationary pressures, and prolong supply chain disruptions, which may tighten global financial conditions, raise imported inflation, and consequently be detrimental to the growth prospects of developing countries in Asia.