Actions speak louder than words, and doubts

On Thursday at the 2016 Boao Forum for Asia, China proposed establishing an Asian financial cooperation association to "improve markets and prevent financial turmoil".

This is a pertinent proposal at a time when the global economy is facing uncertainties and all economies have reason to worry about their security.

In 1997 and 1998, when much of Asia was experiencing financial turmoil, there were voices calling for a regional mutual help mechanism. But things just happened too quickly for anything to be done.