List best practices for use of macro-prudential policies in housing market

ASIA has faced at least three major crises in the last two decades - Asian Financial Crisis (AFC) of 1997-98; Global Financial Crisis (GFC) of 2008-09; and the ongoing Covid-19 crisis of 2020. In between these crises was the Nasdaq bubble collapse of 2001, the "taper tantrum" period in 2013 and...

Does Covid-19 mark the death of financial globalisation?

AS COVID-19 continues to ravage economies across the world, it has now become a common refrain that economic globalisation is passé. Indeed, even before the onset of the pandemic, there were significant concerns that the world was moving towards an era of trade de-globalisation, fuelled by the...

The impact of Covid-19 on the financial system

THE Covid-19 pandemic is an unprecedented stress event that has wreaked havoc on businesses and household balance sheets worldwide. According to the IMF's World Economic Outlook (June 2020), global growth is expected to contract by 4.9 per cent in 2020. Of even greater concern is that there may...

Tale of two cities and two exchange rate regimes

US PRESIDENT Donald Trump recently announced that he is rescinding Hong Kong's special status with the US in trade, travel and technology transfer as part of a set of retaliatory actions against Hong Kong's National Security Law enacted by mainland China. In addition, if reports are to be...