Asia is down, but not out

Asian economies will suffer as exports decline, but they are in better shape to ride out a recession û both compared with the rest of the world and their own situation 10 years ago.

As indicated by the multitude of depressing data released over the past few months, AsiaÆs economies are in for a rough ride this year and most countries will see a significant slowdown in GDP growth compared with 2008. But, says Dong Tao, chief economist for non-Japan Asia at Credit Suisse, itÆs not all doom and gloom as Asia ex-Japan will still outperform the rest of the world, growing at a weighted average of 5.2% this year and 6.5% in 2010....

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