Effects of oil crisis
LV.Z. Press Assn—Copyright) TOKYO, Feb. 6. The oil-supply reductions by the Arab producers are cutting deep into the economies of most Asiancountries, according to a Bank of Japan report, which lists Japan herself, South Korea. India, Taiwan, the Philippines and Thailand as those hardest hit by the crisis. Indonesia, herself an oilproducer, is the only Asian country not affected, the report says. Many countries are already feeling the effects of decreased Japanese exports of plastics and otner oilrelated goods. Singapore and South Korea, for example, rely on Japan to provide 80 per cent of their needs, and India, for 60 per cent. The report estimates that the combined payments deficits of South Korea, the Philippines. Thailand, Malaysia, Singapore, India, Pakistan. Hong Kong and Taiwan will add up to about SNZ24OOm.
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Press, Volume CXIV, Issue 33452, 6 February 1974, Page 11
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134Effects of oil crisis Press, Volume CXIV, Issue 33452, 6 February 1974, Page 11
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