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Beware Asia's growing debt bubble

Getting the balance right between supporting the recovery and avoiding calamity

| East Asia
An advertisement showing bank's interest rates in Seoul: it is not the level of debt that matters but the speed of increase.   © AP

Frederic Neumann is Co-head of Asian Economics Research at HSBC.

Give Asia's central bankers their credit. By taking swift and determined action, they have kept financial systems on an even keel during the pandemic, and their policies have cushioned the economic blow.

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