East needs West

Its economic growth might have diverged from the developed world, for now, but Asia is still dependent on the West, according to FinanceAsia readers.
A construction worker at a housing development project in China's Anhui province.
A construction worker at a housing development project in China's Anhui province.

Asia’s quick economic recovery has left some people, including quite a few of our readers, wondering if the once-fashionable idea of decoupling might have had some truth to it.

Before the global financial crisis, Western bankers in the region liked to push the idea that Asia’s economy was decoupling from the US and Europe. It made for a good pitch, but nobody really believed it. Back then, Asia was growing fast, as it is today, but rich countries in the West were prospering too. It seemed hard to believe that one region could continue to grow if the other suffered a slowdown.

Fast forward two years and the global economy doesn't look quite...

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