Timidity is undermining progress towards an Asian bond market that would give companies access to the local currency debt they need
Asian officials are talking a lot these days about their favourite pet issue: a regional bond market. The recent meeting of finance ministers in Manila was seen as an opportunity to nail down details for one. Yet the gathering did more to highlight just how far off such a market is. It also underscored concerns the region is moving too slowly on something that is vital to its future prosperity. It is good to see the 10 members of the Association for Southeast Asian Nations (Asean) tackling the issue. Well-functioning bond markets would make Asia less vulnerable to the kinds of capi...
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