Bank notes of different currencies are displayed on a wall in Hong Kong. Asia is better positioned to weather external shocks than other emerging markets – its macro conditions are robust and the region’s exchange rates have become more flexible, barring Hong Kong’s, which can serve as a shock absorber for domestic markets against volatile global capital flows. Photo: AFP
Bank notes of different currencies are displayed on a wall in Hong Kong. Asia is better positioned to weather external shocks than other emerging markets – its macro conditions are robust and the region’s exchange rates have become more flexible, barring Hong Kong’s, which can serve as a shock absorber for domestic markets against volatile global capital flows. Photo: AFP