Two themes, a sort of call-and-response, dominated the IMF annual meetings in Bali in October.
One was the double act of the escalating US-China trade war and the gathering momentum of a global rates-rising cycle. The other was the fact that nobody in Asia – bankers, central bank governors, policymakers – seems particularly concerned about it.
It is 20 years since the Asian financial crisis, 10 since the global sequel, and the common view among most Asian nations is that having been flattened by the first, they sailed through the second.
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