This sharpened the focus of the Taskforce, particularly on how digitalization could anchor the global Post-COVID posture. The report of the Taskforce, titled “People’s Money: Harnessing Digitalization to Finance a Sustainable Future,” was launched on August 26 and focuses on the needs of ordinary people. The financial system, the report concludes, must serve individual citizens, as savers, investors, borrowers, and taxpayers.
Strong U.S. dollar following partial U.S. recovery and easing in Europe and Japan have tested some of Asia’s economic buffers. Weak commodity price has significantly hurt exports of some key regional economies. And more recently, China’s decision to rejuvenate its moderating growth through exchange rate policy has made the risk of external funding intensified.