The pandemic represents a severe challenge for policymakers in Asia. They need a response that will help economies achieve a more efficient and fairer allocation of resources in the economy, enhancing productivity, economic growth and employment.
疫情给亚洲国家和地区的政策制定者提出了挑战。虽然经济复苏的形态尚不明朗，但政府和货币政策主管机关制定的积极政策可以推动经济复苏。
The pandemic is challenging policymakers across Asia. The shape of the economic recovery is uncertain but pro-active government and central bank policies can improve outcomes.
亚洲监管机构和政策制定者应开展审慎的金融监管，以提高私人债务的质量，减少影响未来金融稳定的风险。
Asian regulators and policy makers should undertake prudential financial supervision and regulation to improve the quality of private debt and reduce the risk of financial instability in the future.
It’s high time for emerging Asian markets to prepare themselves for the tighter global financial conditions that Fed balance sheet normalization entails.
Urgent action is needed to reduce leverage levels in case US interest rates rise faster than expected.
