Open AccessGlobal Economic Policy Response in Asean Welcomes Changes in Market Behavior Towards the New Normal
Author(s) -
Linh Benson,
Ha Dai Sinh
Publication year - 2021
Publication title -
journal of asian multicultural research for economy and management study
Language(s) - English
Resource type - Journals
ISSN - 2708-9711
DOI - 10.47616/jamrems.v2i2.109
Subject(s) - business , context (archaeology) , finance , gross domestic product , financial inclusion , financial services , currency , investment (military) , financial system , economic policy , economics , economic growth , monetary economics , paleontology , politics , political science , law , biology
This article addresses the Gross Domestic Product (GDP) growth rate, normally used to determine how quickly economic growth has contracted in a region, i.e. adverse growth. Thus, the Finance Ministers and the ASEAN Central Bank Governors have decided on a number of promises, including (1) that exceptional policy responses to resolve this pandemic would be washed away to restore economic activity. (2) to enhance the economic and financial monitoring efficiency of the area, and to promote readiness to act as an efficient financial safety net in the region and as an essential component of the global financial security net of the Chiang May Initiative Multilateralization (CMIM). (3) to facilitate greater intra-ASEAN exchange and investment by setting up eligible ASEAN banks (4) funding for local currency use programs for settlements, foreign investments and other operations between ASEAN countries, such as revenue and transfer transactions. (5) supports the advancement of partnership in the area of the funding of infrastructures, in the context of many recommendations to facilitate private investment growth, among other steps. (6) to promote initiatives to use digital financial services to enhance the financial inclusion of the area and to enhance cooperation on various cyber risk management material.