Morocco, Thailand, Vietnam and Pakistan are some of the most-affected larger economies, based on energy import and gross domestic product data from the United Nations.
Much of Asia-Pacific will see higher oil and commodity prices, shortages, slower demand for manufactured goods though there will be some trade winners.
Most of the Asia-Pacific will experience headwinds in two ways: higher oil and commodity prices and therefore sustained inflation – given that most of the region imports energy.
The Thai government has promised to do its best to keep the price of diesel at no more than 30 baht/litre for as long as possible, until possibly May, while Matteo Lanzafame, a senior economist at the Asian Development Bank, suggests giving subsidies to the poorest segments of the population, who spend disproportionately more of their income on energy.
