Redefining Strategic Routes to Financial Resilience in ASEAN+3
The financial landscape of the Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China, Japan, and the Republic of Korea—collectively known as ASEAN+3—has significantly changed over the past decades with rapid globalization and digitalization. Despite the impressive reforms so far, the region faces continued challenges and vulnerabilities, including deepening corporate bond markets, coping with cross-border bank concentration risk, reducing dependence on US dollar, achieving sustainable infrastructure investments, addressing pension challenges, as well as supporting fintech development. This edited book volume highlights the scope for stronger regional financial cooperation to address the region’s financial challenges and vulnerabilities. It offers policy considerations on how regional financial cooperation could progress toward greater financial resiliency and stability amid rapid economic and financial development with technological changes.