Strengthening domestic economy in times of crisis

THE Malaysian Social Science Association is closely monitoring the ongoing conflict in the Middle East. As a trading nation, Malaysia is not exempt from the impact of this conflict, which has directly affected global economic stability and the well-being of people in many countries.

The Strait of Hormuz, which handles approximately 20–30% of global oil flows and nearly 20% of the world’s liquefied natural gas (LNG) supply, has been effectively closed to most commercial traffic, leading to sharp increases in fuel prices worldwide.