AGP Executive Report
Last update: 9 hours agoMiddle East Shock to Global Economy: World Bank chief economist Indermit Gill warns the US-Iran escalation could drag global growth to 1.3% in 2026, lift inflation, and worsen food insecurity via disrupted shipping and fertilizer supplies. ASEAN Diplomacy Under Pressure: ASEAN foreign ministers in Manila urged an immediate halt to Middle East fighting and full reopening of the Strait of Hormuz, while also pushing to finalize the South China Sea Code of Conduct at the November summit. US-ASEAN Pivot: US Secretary of State Marco Rubio told ASEAN the US “will never abandon” partners, citing $2.5bn in strategic investments and new DFC-backed funding for aviation, energy security, and supply chains. ASEAN-India and ASEAN-Canada Trade Push: ASEAN and India reaffirmed cooperation on trade, connectivity, maritime security and people-to-people ties; Indonesia also urged finalizing the ASEAN-Canada free trade deal this year to boost supply chains and MSMEs. Scam Economy Warning: UNODC says Asia-Pacific scam losses hit $88bn–$114bn in 2025, driven by Chinese-origin syndicates using AI and expanding despite crackdowns. Digital Trade Tensions: China condemned the EU’s record AliExpress fine under the Digital Services Act, calling it a pretext for digital trade barriers. Pakistan Seeks FX Backstop: Pakistan asked the US for a proposed $10bn exchange stabilization facility to strengthen reserves amid IMF-linked reforms.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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