Results for: Asia

According to the United Nations, climate-related disasters, primarily floods and storms, devastated Asia in 2023, causing numerous fatalities and severe economic losses. The World Meteorological Organization (WMO) warns that heatwaves in the region are intensifying, threatening water security. Asia experienced a significant temperature increase of approximately two degrees Celsius last year compared to global average warming. The WMO emphasizes the urgency of addressing these climate challenges, especially through emission reductions and adaptation measures.

Asia bore the brunt of natural disasters in 2023, with 79 extreme weather events affecting over 9 million people and claiming more than 2,000 lives. Floods and storms were the predominant hazards, accounting for over 80% of reported incidents. Despite a slight decrease in event numbers compared to 2022, the impact on India was significant, with heatwaves, floods, glacial lake outbursts, and tropical cyclones causing widespread damage.

In this interview, Joey Chew, HSBC’s head of Asia FX Research, shares insights into the outlook for the currency and monetary policy in Asia. Chew discusses the impact of the COVID-19 pandemic, the global economic recovery, and the geopolitical tensions in the region. He also provides his views on the potential for a stronger US dollar and the implications for Asian currencies. This article is essential reading for anyone interested in the latest developments in the Asian currency markets.