Home to 30% of the world’s population, the ASEAN+3 region accounts for only 3% of the total number of confirmed COVID-19 cases globally. While ASEAN+3 economies have proven to be resilient in the face of the COVID-19 pandemic, the road to recovery is fraught with challenges and risks.
Financial markets have soared since the start of the pandemic. But public and private sector balance sheets have weakened. Supportive policies and effective vaccine rollouts will boost regional growth. Policies will have to shift from protecting lives and livelihoods to safeguarding an inclusive and sustainable recovery.