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Goldman Sachs Warning to Asian Emerging Markets: A Blockade of the Strait of Hormuz Could Drive Up Inflation
Svmuu News Goldman Sachs Analysts noted in a research report that a prolonged conflict in the Middle East could put pressure on emerging economies in Asia. Goldman Sachs It is estimated that if the Strait of Hormuz were closed for six weeks, oil prices could rise to $85 per barrel. Under such a scenario, inflation in the region could increase by about 0.7 percentage points, with the Philippines and Thailand being the most vulnerable.Supply disruptions could drag down the region’s real GDP growth by an average of 0.5 percentage points, with Singapore being the hardest hit. Goldman Sachs added that current account balances in nearly all countries in the region could deteriorate, led by Thailand and Singapore. (Jin Shi)
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