This oil shock will hit Asia harder than the 1970s

Asia faces a sharper oil shock than the 1970s as over 80 percent of Strait of Hormuz crude flows east to energy-dependent nations. Vietnam, Malaysia, and Indonesia have shifted from exporters to importers, while rising fuel costs squeeze consumers from Seoul noodle shops to Japanese bathhouses. Airlines across Southeast Asia have cut May schedules by 10-15 percent.

Summary by Glance · Brisbane Times