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Time for India, Indonesia to say ‘brace, brace, brace...’
The two large Asian economies are vulnerable to the risk of a hard landing as fallout from the Iran war.
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India’s vibrant aviation sector is threatened by rising jet fuel prices at a time when its currency is weakening.
PHOTO: AFP
Already, things were bad enough with the relentless surge of Chinese manufactured products threatening to deindustrialise vast tracts of the South-east Asian and South Asian industrial landscape, and artificial intelligence eating into white-collar employment.
Now, thanks to the Iran war, an economic gut-punch inflicted by the US and Israeli leadership is beginning to be felt around Asia, and the pain will stay long after the fighting stops.
