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After more than a two-decade wait, Anwar Ibrahim finally takes the reins as Malaysia’s prime minister. But political uncertainty and shifting stances linger after a divisive election. Indonesia will elect a new leader in 2024. While President Joko Widodo is not allowed to run for a third term under the country’s constitution, his supporters and business owners are hoping for continued political stability. Over in Thailand, the political future of Prime Minister Prayut Chan-o-cha looks unclear as elections loom. Meanwhile, a split in opinions between Myanmar and ASEAN grows wider as the crisis looks no closer to being resolved.
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The conflict between Russia and Ukraine with its far-reaching consequences continues in 2023 with no end in sight. This comes as the power play between Beijing and Washington looks set to heat up after China begins to emerge from its strict zero-COVID policy with considerable risks. On the economic front, the global economy appears to be headed towards its steepest slowdown since 1970. Both the International Monetary Fund and the World Bank have raised concerns about a worsening global outlook, as rising inflation around the world brings about a striking fall in real wages, potentially increasing the number of people facing food insecurity.
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