China has decided to implement or has already implemented a range of policy measures since the second half of last year, including fiscal and monetary policies. Some Asian emerging economies are also expected to increase fiscal expenditures. In emerging economies in general, monetary policy space has increased as the Federal Reserve has adopted a patient stance regarding its policy normalization.
From a legal perspective, this ensures continuity and equal treatment, from an economic perspective, the logic of lasting convergence has not changed and is all the more important when countries are at different stages of economic development.