Supporting a strong, inclusive, and sustainable recovery in Asean
Stronger regional cooperation and more effective domestic resource mobilisation will help the bloc's economies rebound and rebuild for a more resilient future.
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TWO issues will be critically important for Association of Southeast Asian Nations (Asean) members to shape their recovery from the Covid-19 pandemic: Strengthening regional cooperation and improving domestic resource mobilisation.
First is the need to leverage stronger regional cooperation to enhance regional financial safety nets, deepen regional trade and supply chains, and build regional health security.
US interest rate hikes often drive capital outflows from emerging markets, which can trigger currency and financial volatility. At this stage of the pandemic, the additional policy supports and accelerated vaccine rollouts in advanced economies have improved their near-term recovery prospects. These economies could start policy normalisation earlier than expected. Long-term interest rates in some advanced economies have already risen on positive outlooks and inflation concerns, rattling global financial markets.
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