Asia can do with a booster shot for its Covid-19-hit financial system

Regional cooperation is needed to strengthen resilience across a wide range of areas, from banking risks to raising funds for climate-related projects.

The rapid population ageing in many Asean+3 economies has major implications for the management of public and private pension systems. PHOTO: AFP
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Covid-19 has battered, bent and reshaped many things in its wake. Asia's financial system has not been spared either.

The pandemic has exposed its structural weaknesses. The good thing is that the shortcomings spotlighted are an opportunity for all to step up efforts to collectively tackle them. This call to action applies to members of Asean+3 (Asean's 10 members plus China, Japan and South Korea).

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