AMRO：2025年东盟+3金融稳定报告（英文版）

Since the publication of the ASEAN+3 Financial Stability Report (AFSR) 2024, the global economic and financial landscape has shifted significantly. The second Trump administration’s tariff measures, together with heightened geopolitical tensions, and growing concerns over fiscal sustainability in major economies, have all contributed to greater uncertainty. Global financial markets reacted sharply to these events with heightened volatility. Although pressures have eased gradually, long-term b