STOCK, bond and currency trading in the Philippines have been halted, making the Philippines the first country to shut financial markets amid the escalating coronavirus pandemic.
ECONOMIC zone locators are facing a serious risk of funding shortage that could suspend their operations, as they are unable to receive foreign currency from their headquarters overseas with the stoppage of peso-dollar trading.
A RECESSION across Asia-Pacific is “now guaranteed” amid an unprecedented disruption in the flow of people, trade and supply chains in large economies like China and the United States, with emerging countries in the region like the Philippines also likely to see spillover effects, according to S&P Global Ratings.
China’s Ministry of Commerce has announced that it will continue plans for the signing of the Regional Comprehensive Economic Partnership (RCEP) by the end of the year, as scheduled.