Tankers and cargo vessels were observed navigating the Gulf of Oman along critical shipping routes linking the Strait of Hormuz and the Arabian Sea on June 16, underscoring the strategic importance of this maritime corridor for global trade and energy supplies.

Syed Munir Khasru, chairman of The Institute for Policy, Advocacy and Governance (IPAG), an international think tank, emphasizes that the Hormuz crisis reveals vulnerabilities in global supply chains. He advocates for the establishment of a comprehensive SHIELD framework aimed at bolstering resilience across energy, food, infrastructure, logistics, and data sectors.

The situation in the Strait of Hormuz, a vital chokepoint in Asia and the Arabian Sea region, serves as a stark reminder of the interconnected risks facing global economies. Experts warn that without robust governance and coordinated policy responses, the world remains exposed to severe economic disruptions.

Additional concerns include Asia's looming economic challenges such as youth unemployment and governance issues in fintech, which compound the risks of future crises.

Sources