Yasuto Watanabe urges policymakers to treat oil-price volatility as the new normal and prepare accordingly.
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Economics
Jul 14, 2026
Yasuto Watanabe
The Iran war has underscored the fragility of global energy markets, exposing which economies can withstand repeated shocks and which cannot. For ASEAN+3 countries, resilience will depend on stronger electricity systems, regional cooperation, and institutions that can manage persistent uncertainty.
Governments can prepare for persistently high energy prices, but they cannot anticipate every possible market outcome.
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