Asia Won't Get Away Clean

If you want a sense of how events in the US financial markets and economy will impact Asia, do not look at the trade numbers so much as money supply. It is easy to make the argument that Asia has at least to some extent decoupled from the US and hence will be only moderately impacted by a US recession, just as the US, and indeed the west in general, was itself only mildly impacted by the Asian crisis a decade ago.

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