Asian economies feel the pain of the US-Israel war with Iran
A lengthy US-Israel war with Iran could prove ‘traumatic’ say Asian Development Bank.
World Business Report · BBC World Service
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Show Notes
The Asian Development Bank's Chief Economist Albert Park tells us that the conflict in the Middle East could prove 'traumatic', knocking as much as 1.3% of Asian GDP growth, depending on how long it goes on for. He believes that the countries most vulnerable include Sri Lanka, Maldives, Laos, Bangladesh and Pakistan. Meanwhile the price of jet fuel has more than doubled since the start of the war with Iran, with numerous major airlines raising their prices. Jetstar New Zealand cancelled some domestic services and flights between Australia and New Zealand. Vietnam Airlines also scrapped almost a two dozen domestic flights a week. And why shares in the Chinese toy-maker Pop Mart – who make Labubu Dolls – have tumbled more than twenty percent…their biggest drop in nearly a year. Presenter: Sarah Rogers Senior Producer: Craig Henderson