There's little hype. Certainly no fanfare. But quietly and with infinite patience, Asia's economies are hoping to bond together.
In June, 11 Asia-Oceania central banks announced a plan to create a $1 billion fund to invest in Asian government and quasi-government bonds.
The central banks, including those of Japan, Australia and New Zealand, hope to lure local capital into China, Hong Kong, Indonesia, South Korea, Malaysia, the Philippines, Singapore and Thailand.