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Article: Asia grappling with rising inflation, weaker exports as oil soars and dollar plunges
- Article from:
- AP Worldstream
- Article date:
- March 16, 2008
- Author:
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Asia faces the threat of higher inflation, slower growth and tougher times for exporters after oil prices hit new highs and the dollar plunged last week.
Farmers, miners and oil companies could profit from high commodity prices. But most of Asia depends on imported energy and raw materials, and even oil exporters such as Malaysia have other industries that could suffer.
"We are seeing inflation pressure rising across the region, and that's becoming a key challenge for the economies that also potentially face downside risks from a U.S. slowdown," said Citigroup economist Yiping Huang in Hong Kong.
Japan, China and other export-driven economies that sell to the ...