Connect with us

Asean

Asean +3 finance ministers confirm strong economic recovery

Avatar

Published

on

East Asian finance ministers confirmed Sunday that a strong economic recovery is under way in the region following the global financial crisis, while also agreeing to create an intergovernmental supervisory body to sustain the recovery amid various downside risks.

Loading...

The East Asian economies are among the first to rebound soundly, the ministers from the Association of Southeast Asian Nations (ASEAN) plus Japan, China and South Korea said in a joint statement released after their one-day meeting in Tashkent, Uzbekistan. The economies have become one of the key drivers of the global economic recovery. The talks came as Asian economies are recovering from the downturn caused by the financial turmoil relatively faster than U.S. and European economies.

But the ministers warned of some downside risks, including rising asset prices and growing inflationary pressures. Apparently taking lessons from the Greek debt crisis, they also expressed concern over ''sovereign debt risks precipitating renewed global risk aversion and destabilizing international capital flows in Asian economies.'' As for a possible unwinding of emergency policies, the ministers said that the Asian economies would ''adopt appropriate exit strategies, in accordance with our respective economic fundamentals.'' They agreed to set up the new supervisory body in Singapore by next year. The ASEAN+3 Macroeconomic Research Office will monitor and analyze regional economies in a way that helps to detect risks at an early stage and implement remedial actions.

via Asian finance ministers confirm solid recovery after crisis.

Comments

Banking

Singapore’s PayNow and Thailand’s PromptPay Launch Cross-border Payment System

Olivier Languepin and Abhishek Prakash

Published

on

In a global first, Singapore and Thailand have linked their real-time payment systems, PayNow and PromptPay allowing international fund transfers between the two countries within minutes.

Loading...
(more…)

Continue Reading

Myanmar

Digital Revolution and Repression in Myanmar and Thailand

Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage of events on the ground.

Avatar

Published

on

By Karen Lee

Loading...

Following the February 1 coup, Myanmar’s netizens became the latest to join the #MilkTeaAlliance, an online collective of pro-democracy youth across Asia.

(more…)

Continue Reading

Vietnam

Vietnam: Manufacturing to remain the key driver of growth

We expect robust exports, led by strong global demand for electronics, to continue to underpin solid economic growth over the remainder of this year with GDP forecast to rise close to 8%.

Boris Sullivan

Published

on

Vietnam’s Binh Dinh Industrial Zone: Opportunities for Foreign Investors

GDP growth was unchanged at 4.5% y/y in Q1. Manufacturing activity surged, while the recovery in service sector activity and construction continued albeit at a more subdued pace as some localised social distancing measures were reinstated.

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,055 other subscribers

Latest

Trending