Government officials have assured Filipinos that the impact of the Russia-Ukraine war will be minimal given the Philippines’ limited trade and banking exposure with either country. Remittances from the conflict zones are also small compared to inflows from the rest of Europe and the world.
Still, the fact remains that Russia is a major exporter of oil and metals, while Ukraine is among the biggest sources of wheat.
Amid faster inflation, jeepney drivers have called for transport fare hikes; labor groups, for higher wages.
In this B-Side episode, Chester B. Cabalza, International Development and Security Cooperation president and founder, tells BusinessWorld reporter Luz Wendy T. Noble why Filipinos should care about what happens to Russia and Ukraine, and examines the fallout from three angles: energy, warfare, and diplomatic impact.
He compares and contrasts the hybrid war in Europe to what’s happening in the Asia-Pacific, with China flexing its muscles. Closer to home, Mr. Cabalza, who is also a security anthropologist at the University of the Philippines, draws parallels between the hybrid war waged by Russian President Vladimir Putin and the conflict in Marawi.
Recorded remotely on April 27, 2022. Produced by Earl R. Lagundino and Sam L. Marcelo.