(Asia Times) Inflation, food and energy crises, and the potential for conflict are three critical risks facing the Philippines under the new leadership of President Ferdinand Marcos Jr.
The war in Ukraine, which is already in its fifth month, had a massive knockdown effect on global energy and food prices as the combatants are among the world’s largest producers and exporters of wheat. Russia is also a global oil and gas supplier. Therefore as a commodity importer, the Philippines is put in a tight spot.
Still reeling from the huge blow dealt by the Covid-19 pandemic over the last two and a half years, tight global supply and high prices of food, fuel, and fertilizers compound its recovery efforts. Antagonism among great powers contributes to a more tense geopolitical landscape, with regional flashpoints like the Taiwan Strait and the South China Sea representing potential powder kegs for conflict… Read More