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Asian crisis, ready or not

Volume 10, No 4: October - December, 2018

‘Brighter prospects, optimistic markets, challenges ahead’. That was the title of the International Monetary Fund’s World Economic Outlook update in January this year. How quickly things change. Since that report was published, turbulence, volatility and crises have dominated the landscape. The trade war between the United States and China has escalated at an alarming rate. The World Trade Organisation appellate body looks set to be shut-down. Argentina is in crisis. Turkey is not far off. Markets have been rattled in Indonesia, Myanmar, Italy and Spain as financial conditions tighten. With all these risks, now is a good time to review our capacity to respond to crises. This issue of East Asia Forum Quarterly does that. It explores the major financial and economic risks facing the Asia Pacific today and the region’s capacity to withstand and respond should those risks materialise.
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‘Brighter prospects, optimistic markets, challenges ahead’. That was the title of the International Monetary Fund’s World Economic Outlook update in January this year. How quickly things change. Since that report was published, turbulence, volatility and crises have dominated the landscape. The trade war between the United States and China has escalated at an alarming rate. The World Trade Organisation appellate body looks set to be shut-down. Argentina is in crisis. Turkey is not far off. Markets have been rattled in Indonesia, Myanmar, Italy and Spain as financial conditions tighten. With all these risks, now is a good time to review our capacity to respond to crises. This issue of East Asia Forum Quarterly does that. It explores the major financial and economic risks facing the Asia Pacific today and the region’s capacity to withstand and respond should those risks materialise.

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