Expect all eyes on Asia in 2023: India will host the Group of 20 major economies this year after taking over from Indonesia, and Japan will head the Group of Seven.
India is buying Russian oil as it mitigates the fallout from the war in Ukraine and remains focused on its own economic development — and other countries in Asia are expected to do the same, according to the chief economist of the Asian Development Bank.
Many lower- and middle-income countries want to avoid getting dragged into geopolitical tensions, fearing it will damage their economic prospects and the fight against poverty, Albert Park told Devex in an interview looking ahead to the new year.