She said Brent crude prices hovering around 100 US dollars per barrel, coupled with declining refining capacity, have driven fuel costs sharply higher. This is adding to inflationary pressure and pushing 10-year government bond yields in the US, Germany, and Japan to their highest levels in decades.
Heavy investment in AI infrastructure has also pushed stock prices to record highs in many markets. But the benefits of the AI boom are becoming increasingly uneven.
While some technologically advanced Asia-Pacific economies, including China, India, Japan, and South Korea, are narrowing the growth gap, many developing countries are being left behind, widening global inequality.
The AI boom is also driving a surge in energy demand, further pushing up the prices of fuel, fertilizers, and essential food commodities.
At the Bangkok summit, scheduled from Monday through Sunday next week, finance ministers and central bank governors from 191 member countries will discuss ways to ease public debt pressures, manage risks from emerging technologies, and strengthen the resilience of the global economy.
