Forging a Stronger Post-Pandemic ASEAN+3 Economy
The unprecedented challenge that COVID-19 poses to the ASEAN+3 countries further underscores the importance of regional financial cooperation. To that end, recent enhancements to the region's currency-swap arrangement will help to mitigate Asian economies' vulnerability to economic and financial shocks.
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TOKYO/HANOI – The modern international financial system emerged from the devastation of World War II. Since then, it has continued to be shaped by historic slumps – most recently, the 2008 global financial crisis.