In a webinar on March 14, Chua observes that although Asean has relatively small trade links with Russia, with the country only making up only 0.4% of trade and 0.1% of foreign direct investment, the effects of the conflict could spill over to affect the European market, which could have a “larger adverse impact on us,” he says.
As the Russian invasion of Ukraine nears its three-week mark, the economic fallout raises the possibility of tipping economies burdened with supply chain woes and inflationary pressures into recession, warns Chua Hak Bin, Maybank Investment Banking Group's regional co-head for macro research.
The actual conflict is in the heart of Europe but the economic impact can be felt in Asean.
