Tech boom vs oil crisis: Asia’s new economic reality is a warning for the world
AI investment lifted first-quarter growth as higher gas prices slowed consumer spending and widened the divide between chipmakers and the broader economy.
8 Articles
8 Articles
Tech boom vs energy crisis: Asia’s split economy is warning for the world
In South Korea, which imports nearly all of its oil and gas, a global supply crunch has hit hard. Officials have advised energy conservation, cut growth forecasts and warned of fallout from high inflation and 17-year-lows in the value of its currency. Yet the nation’s largest companies are raking in record profits, and its stock market is hitting all-time highs.
Tech boom vs oil crisis: Asia’s new economic reality is a warning for the world
Taipei, Taiwan — In South Korea, a global energy supply crunch has hit hard. Officials have advised energy conservation, cut growth forecasts and warned of fallout from high inflation and 17-year lows in the value of its currency. Yet the nation’s largest companies are raking in record profits, and its stock market is hitting all-time highs. The contradiction underscores how, in Asia, there are now two economic realities. The historic oil shock…
In South Korea, the global energy supply crisis hit the country hard. Authorities recommended energy conservation, reduced growth forecasts and warned of the consequences of high inflation and currency devaluation, which reached the lowest level in 17 years. Even so, the country's largest companies are recording record profits and the stock market is reaching historical peaks. Contradiction shows that, in Asia, there are now two economic realiti…
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