As of this writing a ceasefire remains in effect between both sides of the Iran and US conflict with long negotiations between high level delegations of both sides ending in Islamabad without any clear agreement. In short, no deal made.

This was met by strong words from the US President making it clear that his government intends to block ships seeking to cross the Strait of Hormuz, with threats to escalate the conflict.

With developments in Islamabad being what they are, what happens now remains unclear, as fears of continued conflict remain fresh. A whole region is on edge, while the rest of the world, including we, face more uncertainty right down to our households.

How long will this uncertainty last? I don’t know.

What we do know is that the economic effects of these developments on the middle east on our own local economies may be compounded by extreme weather conditions affecting our food growing and distribution capabilities, potentially hurting that part of our economy that affects the greater number of Filipinos.

What we must try to know or understand is how the dynamics between nations and other factors tend to affect us. It is clear that the dynamics between nations big or small are defined not by rules and guardrails but by raw power deployed to exert direct influence over desired outcomes that reflect their self-interest.

This can mean that players will make big swings rather than measured moves. Depending on what part of the world this takes place in, this can create rapid unintended consequences. As an example, the conflict in the Ukraine and now Iran bears the consequence of high fuel prices for us.

Today's dynamics in international relations may be complex but can and must be appreciated in terms of bow they affect our short- and long-term interests.

What we must do is monitor the effects on local economies and find ways to mitigate the effects on the ability of trade, commerce and industry to continue humming so that incomes and livelihoods of the people are protected and upheld in the face of the effects of the conflict.

With this, I reiterate my call for all sectors both private and public in our local economies to collaborate to keep food growing, trade flowing and jobs secure to to the highest levels we can. There is no time to waste. This complex situation demands that we must prepare as best we can.