Dialogue

The war on Iran is sending shockwaves through the global economy, but nowhere are the effects more immediate and severe than in Asia. Governments across the region are scrambling to secure supplies, while businesses and households face rising costs. In some countries, shortages have already sparked panic buying and even social unrest. This is not just a temporary crisis—it could reshape growth, inflation, and long-term energy strategies across Asia. How vulnerable are Asian economies to this shock? Which countries will be hit hardest, and who might adapt? Could this crisis accelerate a deeper transformation in Asia's economic model?

U.S. President Donald Trump has delivered his first national address on the war against Iran, claiming major victories but also raising more questions than answers. He claimed that the war is near completion, but warned of intensifying strikes in the coming weeks. While saying the U.S. doesn't need Iran's oil, he has previously floated the idea of "taking it." Trump has even suggested that countries reliant on the Strait of Hormuz should "just take it" themselves. What exactly is Washington's strategy? Are these contradictions part of a strategy, or signs of a deeper lack of clarity? Can the two sides reach any deal any time soon?

China's 2026 "Two Sessions" have emphasized steady growth, deeper opening up, and a focus on innovation-driven development. From continued capital inflows into Hong Kong to the expansion of a New Quality Productive Forces, China is positioning itself as a stabilizing force and a driver of global growth. What lies behind China's economic resilience? Can higher standard opening up succeed in today's volatile international environment? What signals do the top political meetings send to foreign investors in China? As China evolves from a major recipient of a foreign investment to a significant outbound investor, what could it bring to global supply chains?

U.S. President Donald Trump has told aides he is willing to end the war on Iran even if the Strait of Hormuz remains closed. He has also warned that Iranian energy infrastructure, including desalination plants, could be targeted if a deal is not reached soon. Foreign ministers of Pakistan, Saudi Arabia, Turkiye, and Egypt have met in Islamabad, pledging support for renewed peace efforts. What is Washington's next move? Is the U.S. preparing to exit, regardless of the consequences? Or is it keeping military options open, as more troops arrive in the region? And can diplomatic efforts from other countries help ease tensions?

Military power has long been central to U.S. global dominance, but the war on Iran is testing its limits. This is more than just another conflict; it marks a potential turning point. Critics argue that Washington's reliance on force over diplomacy and unilateral actions instead of multilateral cooperation signal a shift toward coercion, accelerating the very decline the U.S. seeks to avoid. Is this a moment of American dominance or reckoning? Is the U.S. reinforcing its global primacy or hastening a shift toward a more fragmented, post-American world?

Military power has long underpinned the United States’ global hegemony, but the war in Iran is now putting that foundation to the test. What is unfolding is not just another conflict, but a potential turning point. Critics argue that Washington’s reliance on force over diplomacy and unilateral action over multilateral cooperation signals a shift toward coercion that may be accelerating the very decline it seeks to prevent. The question remains whether this moment reinforces U.S. primacy or marks a broader shift toward a more fragmented, post–United States world.

Despite global headwinds, Asia remains resilient, continuing to drive global growth and trade. That's the clear message from the Boao Forum for Asia, now underway in Hainan. What is underpinning Asia's resilience? As the global energy supply faces growing disruption, how can the region navigate these challenges—while advancing integration and sustaining its growth momentum?

The war on Iran is sending shockwaves through global energy markets. Industry insiders say they "have not seen anything like this."According to the International Energy Agency, more than 40 energy assets across the Middle East have been "severely" or "very severely" damaged. This comes in addition to the closure of the Strait of Hormuz, through which around 20% of global oil flows. At the same time, the impact of energy shortages is being felt in a growing number of countries worldwide. How serious is this moment for global energy security? What are the short- and long-term consequences? And could this crisis trigger a deeper shift in how the global energy system operates?

For decades, the U.S. has built one of the most extensive alliance systems in modern history. However, that foundation is under growing strain. From a series of America First unilateral policy moves to the U.S. war on Iran, Washington’s actions are leaving many of its allies uneasy and even outright unwilling to follow.

The U.S. and Israel's war on Iran is entering a more dangerous and economically consequential phase. After Israel struck Iran's South Pars gas field, Iran retaliated by hitting energy targets across the Gulf, including Qatar's gas hub, sending energy prices sharply higher. Where is the conflict heading? And could the battle over energy infrastructure reshape the strategic calculations of the entire region?