Iran war: Why a Trump climbdown won’t save Asia’s economies

For the second year in a row, Asia’s vulnerability to global shocks is a source of concern. Almost exactly a year since US President Donald Trump launched his assault on the global trading system, the external dependencies of leading Asian economies have once again dimmed the outlook for the region. Early last year, analysts were worried about Asia’s heavy reliance on exports to the United States. Morgan Stanley pointed out that seven of the 10 countries running the largest trade surpluses with...