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The War in Ukraine: Economic impact on Asia

Author

Listed:
  • Herrero Alicia García

    (Adjunct Professor, Department of Economics, Hong Kong University of Science and Technology (HKUST))

  • Mu Haoxin

    (Economist, Economic Research Department, Natixis)

Abstract

Russia’s invasion of Ukraine in February 22, 2022 was a major shock for the global economy but also for Asia. Our paper reviews its impact on Asia through different channels, especially trade and finance of. We conclude that the trade and financial impact on Asia, and in particular on China, are much milder than for Europe. That said, the indirect impact, via elevated commodity prices and supply chain disruptions, has clearly had a toll on Asian economies considering their dependence on imports of fossil fuels. We also discuss China’s stance on the conflict, which may be key for its evolution down the road.

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Handle: RePEc:vrs:ecdipl:v:1:y:2023:i:1:p:56-63:n:1002
DOI: 10.2478/ecdip-2023-0002
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References listed on IDEAS

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  1. Dharen Kumar Pandey & Rahul Kumar, 2023. "Russia-Ukraine War and the global tourism sector: A 13-day tale," Current Issues in Tourism, Taylor & Francis Journals, vol. 26(5), pages 692-700, March.
  2. Madina Khudaykulova & He Yuanqiong & Akmal Khudaykulov, 2022. "Economic Consequences and Implications of the Ukraine-Russia War," International Journal of Management Science and Business Administration, Inovatus Services Ltd., vol. 8(4), pages 44-52, May.
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