Photo by Emilio Takas on Unsplash
It was maybe inevitable that the oil shock would lead to a dollar shock, especially in Asia. The sudden, sharp rise in oil prices is essentially a margin call in dollars, which hits the biggest energy importers the hardest. Today, the biggest economy in Southeast Asia just tightened currency controls, restricting dollar availability there, and confirming the monetary situation is in a precarious position already.
Video:00:22:41
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