Asia's response to export shock is encouraging

Fiscal stimulus and interest rate cuts are sowing the seeds of recovery, but the private sector has to respond to make it sustainable, says Frederic Neumann, senior Asia economist at HSBC Global Research.

Which countries are most vulnerable to the global economic slowdown and, worse case, how might that vulnerability manifest itself
Most vulnerable in Asia are economies that already suffered from domestic structural challenges going into this export downturn. This limits their ability to offset the external drag on growth with domestic demand. Northeast Asian economies appear more vulnerable on this count, with Japan and Taiwan already encountering lacklustre consumption and investment spending before the export crisis hit. These countries will...

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