New Asian financial crisis in the making?

RECENT financial and macro developments, both external and domestic, have been nothing short of uncertainties and volatilities. Moving forward, even economies that have been disciplined in its management and financial systems, and that are stable and well capitalised, will have their resilience tested.

In June, the World Bank trimmed its 2015 global gross domestic product (GDP) growth forecast to 2.8%, down from its 3% projection estimated in January on the back of the excepted slower economic growth in the emerging markets and the US.