iorities for China’s foreign exchange reserve strategy, according to the SAFE annual report last year. “Pu
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folios, can hedge risks and secure the assets’ value and profit,” the report said.
To better control potential risks, SAFE has introduced “counter-cyclical” policies to prevent adverse situations arising. Acco
亚博yabo平台千花坊rding to the report, the major risks are listed as “credit”, “market”, “liquidity” and “operational”.
The past five years have been the hottest on record in Asia and the Pacific. Unprece
dented heatwaves have swept across our region, slowly leading to disasters such as drought.亚博yabo平台千花坊
Yet heat is only part of the picture. Tropical cyclones have struck new, unprepared
parts of our region and devastatingly frequent floods have ensued. In Iran, they affected 10 million p
亚博yabo平台千花坊女神会所eople this year and displaced 500,000, of which half were children. Bangladesh is experiencing its fourth wave of
flooding in 2019. Last year, the province of Kerala in India faced the worst floods in a century.
This is the new climate reality in Asia and the Pacific. The scale of forecast economic losses for the region is sobe亚博yabo平台千花坊
ring. Including the slow onset of disasters, average annual losses until 2030 are set to quadruple to about $675
billion, compared with previous estimates. This represents 2.4 percent of the region’s GDP.
Economic losses of such magnitude will undermine both economic growth and亚博yabo平台千花坊女神会所
our region’s efforts to reduce poverty and inequality, keeping children out of scho
ols and adults of work. Basic health services will be undermined, crops destroyed and food security jeopardized. If
we do not act now, the Asia-Pacific’s poorest communities will be among the worst affected.亚博yabo平台千花坊
Four areas of Asia and the Pacific are particularly vulnerable, hotspo
ts which combine vulnerability to climate change, poverty and disaster risk. In trans-c
亚博yabo平台千花坊女神会所ountry river basins in South and Southeast Asia such as the Ganges-Brahmaputra-Meghna river basin, floods
alternate with prolonged droughts. In Southeast Asia and East and Northeast Asia earthq
uakes, tsunamis and landslides threaten poor populations in the Pacific Ring of Fire.