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Asia faces financial health check after going big on stimulus

BANGKOK — Governments across Asia are unleashing massive stimulus packages to support economies heading into recession as the novel coronavirus batters consumption and investment, threatening progress in shoring up fiscal and monetary policy management following previous crises.

Economists agree swift action is essential. Credit rating agencies, however, have their eyes on national fiscal health. Policymakers thus have to spend their conjured funds wisely to avoid loading future generations with perpetual debt while dodging damaging short-term credit downgrades.

The big three raters — Standard & Poor’s, Moody’s and Fitch — have yet to downgrade the sovereign rating of any large Asian

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China to impose security check on infrastructure IT procurement

BEIJING — China will next month require operators of public infrastructure such as telecommunications and transport to undergo a security review of their suppliers when they procure servers and other information technology equipment.

The requirement is aimed at preventing disruptions in the supply of IT equipment as a result of political, diplomatic and other developments, according to the Chinese government. But foreign companies may be shut out of procurement as a result.

The government also plans to limit the use of customer data by foreign companies as it is reinforcing its “China first” policy at a time when U.S. President

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