The arrest of former President Rodrigo Duterte by the ICC will not have any direct economic consequences, but it shines a light on the deepening political instability in the Philippines, particularly the rift between President Marcos Jr. and Vice President Sara Duterte. With the country already ranked as one of the least politically stable in the region, this turmoil could weigh on the country’s long-run growth prospects.
Meanwhile, new labour market data shows Korea is making progress in boosting female workforce participation and keeping older workers employed longer, helping to offset the drag from a shrinking working-age population.
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