Download now Free registration required
As the crisis built up over the last few months, with the contagion spreading first among financial institutions and then from financial institutions into the "Real economy," some commentators thought that Asia and the West could be "Decoupled." They argued that the economies of Asia would not suffer, because their banking systems were not exposed to the toxic debt originating with U.S. subprime mortgages. But this has proved to be overly optimistic. There is no doubt that Asia has not been affected as quickly or to the same extent as the United States and Europe. However, across the region, economies are slowing as the global downturn takes hold.
- Format: PDF
- Size: 279.48 KB