April 1, 2026 l Business Mirror
“Our moral economy went bankrupt long before our financial one.”
— From a compilation on economic collapse
With the Middle East crisis, we live amidst extreme uncertainty where what is certain is no one knows the end game. Everyone has an opinion on what, why, and how. The key players hold the power to change the world, yet their motivations and expectations are essentially their own.
The Middle East crisis is one of a kind. It brings the “whammiest” impact that no one is exempted from. Economists expect for the country to experience the following.
1. Lower growth that may drag growth rate back below 5 percent.
2. Skyrocketing oil price may lead to high inflation rate impacting on consumption.
3. Energy and food security are at risks.
4. With the repatriation of overseas Filipinos from the troubled region, remittances are seen to be reduced.
5. The peso quickly reacted and has shown its weakness.
It seems we have a confluence of the worst situations. But one should not lose hope. One blessing we have is that we are not in the immediate region where war is happening.
The destroyed buildings and infrastructures, the loss of lives—civilians, military men and women—the dislocated citizens, the disparaged economies and more have to be restored and/or redeveloped. Some order has to follow. How long will it take and for how much, one can only speculate.
The powers that be have unloaded their ammunitions’ inventories and will continue to produce with enhanced technology, creating new ways and tools to prepare for the next adventurism. This will spur development.
Not all is lost. Another cycle will begin with opportunities.
Meantime, one can only ask some basic questions.
1. What is the United Nations for?
2. What happened to the Board of Peace? Is the crisis part of the Board of Peace plan?
3. Who cares for humanity?
“Peace and humanity are intrinsically linked, requiring compassion, empathy, and understanding rather than force. True peace is not merely the absence of war, but the presence of justice, harmony, and inner calmness that stems from recognizing our shared humanity, compassion, and the necessity of loving one another to create a better world.”
***The views expressed herein are her own and do not necessarily reflect the opinion of her office as well as FINEX. For comments, email clmanabat@gmail.com. Photo is from Pinterest.