ANZ Bank: Asian economies better equipped to handle the impact of Middle East conflicts.

Sanjay Mathur of the Australia and New Zealand Banking Group wrote in a report that compared to the Russia-Ukraine conflict in 2022, Asia is better equipped to handle the impact of Middle East conflicts. In 2022, the region is facing pent-up demand and rising commodity prices after the pandemic. The economist said, "The current situation is relatively mild, with price pressures mainly coming from oil." The current growth is supported by the technology supercycle rather than domestic demand. However, if the conflict continues, it will further hurt shipping costs, retail fuel prices, and remittances.