Regional powers China, Japan, South Korea, and ASEAN countries emphasize the need for increased unity and collaboration, expressing concern over the escalating protectionist tendencies.
Freakin' ASEAN + 3 Finance Summit in Milan -- Y'all Better Know What's Up 💼💰 rezenting 📸 : Chinese Ministry of Finance
Hey there, folks! 🤓 Let's chat about the 28th ASEAN Plus Three Finance Ministers' and Central Bank Governors' Meeting held on May 4, 2025. It went down in Milan, Italy, and y'all better believe some stuff got discussed.
First off, with all the uncertainties and trade tiffs going on, these finance honchos knew they needed to build some policy buffers. This means continuing to support growth by targeting funds wisely, all while implementing changes to boost efficiency and productivity (get with the program, people!).
Next up, these peeps agreed to reconsider their monetary policies and preserve exchange rate flexibility. It's crucial to keep an eye on domestic situations while making adjustments, and maintaining flexibility means the economies can better handle any unexpected external hiccups.
Now, the crew showed some serious support for the Regional Comprehensive Economic Partnership (RCEP) Agreement. They want to make sure supply chains don't get all tangled up, so they're advocating full and robust implementation of this deal.
Multilateralism was also on the agenda, with these ministers and governors championing a rules-based, non-discriminatory, open, fair, equitable, and transparent trading system under the World Trade Organization's tutelage. Who wouldn't want that?
Rising protectionism was another hot topic, as it's a known threat to the region's financial well-being. These peeps know they need to stick together to combat these challenges and safeguard their economic future.
Lastly, discussions touched upon maintaining mechanisms to boost regional stability, especially the Chiang Mai Initiative Multilateralization (CMIM). This helps fortify economies against external shocks and promotes resilience in times of uncertainty.
So there you have it! The 28th ASEAN + 3 Finance Ministers' and Central Bank Governors' Meeting, in a nutshell. Keep your eyes on these important conversations and keep building that financial resilience, folks! 🤠💼💰💼💰
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Chinese Ministry of Finance imported valuable insights from the 28th ASEAN Plus Three Finance Ministers' and Central Bank Governors' Meeting, which was held in Milan, Italy. The discussions revolved around building policy buffers to support economic growth, preserving exchange rate flexibility, promoting the Regional Comprehensive Economic Partnership (RCEP) Agreement, advocating for multilateralism, combating rising protectionism, and bolstering regional stability through mechanisms like the Chiang Mai Initiative Multilateralization (CMIM). Chinese Ministry of Finance recognizes the significance of these discussions and aims to contribute to financial resilience and regional stability in ASEAN.
