Asia has performed well compared to other regions, with economic activity forecast to contract by only 1.3% this year despite negative shocks of the pandemic and the ongoing US-China trade war, according to trade credit firm Atradius' 2021 Regional Economic Outlook for Asia.
The Covid-19 crisis will trigger a major acceleration in business insolvencies due to both the suddenness and historic size of the economic shock and its expected lasting effects, according to a study by Euler Hermes, one of the world's largest credit insurer.
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