Asia is resilient amid global turbulence

Conflicting hypotheses of Asia's decoupling versus a severe negative impact on the region from a US slowdown will be put to the test over the next few quarters, argues Standard & Poor's.

As the turbulence in US financial markets took hold in 2007 and gave every indication of spilling over into a growth slowdown or even a recession, opinions about its impact on other parts of the world, particularly Asia, were divided. There was the ôdecouplingö school of thought, which argued that Asian growth momentum in recent years had diversified from the regionÆs dependence on exports to the US and that a US slowdown would not impact too badly. Others argued that...

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