Trump tariffs, China’s ‘deflationary exports,’ climate risks loom over region
People watch New Year’s fireworks in Quezon City on Jan. 1. The Philippine economy took a hit last year from a major graft scandal, typhoons and trade pressures, but the outlook is more positive this year, according to an Asian Development Bank economist. © Reuters
RAMON ROYANDOYAN, LIEN HOANG and NORMAN GOH
February 20, 2026 09:46 JST
MANILA/HO CHI MINH CITY/KUALA LUMPUR — Southeast Asia was a tale of two regions in 2025, as countries like Vietnam and Singapore recorded strong export growth despite U.S. tariff turbulence while the Philippine and Thai economies took hits from natural disasters and political turmoil.