ASEAN aims to dodge crisis in West
ASEAN finance officials and the heads of regional central banks yesterday homed in on the possibility of economic crisis as well as potential means of averting contagion in fledgling Southeast Asian economies. The officials have also agreed “in principle” to doubling a regional currency fund to US$240 billion. Protection from the US and European economic crisis – which threatens many regional exporters exposed to the West – would come in the form of integrated finance among member states and boosted access to emergency funds...
