EconStor >
Bard College, Annandale-on-Hudson (NY) >
Levy Economics Institute of Bard College >
Working Papers, Levy Economics Institute of Bard College >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/57039
  
Title:Asia and the global crisis: Recovery prospects and the future PDF Logo
Authors:Felipe, Jesus
Issue Date:2010
Series/Report no.:Working paper, Levy Economics Institute 619
Abstract:The global crisis of 2007-09 affected developing Asia largely through a decline in exports to the developed countries and a slowdown in remittances. This happened very quickly, and by 2009 there were already signs of recovery (except on the employment front). This recovery was led by China's impressive performance, aided by a large stimulus package and easy credit. But China needs to make efforts toward rebalancing its economy. Although private consumption has increased at a fast pace during the last decades, investment has done so at an even faster pace, with the consequence that the share of consumption in total output is very low. The risk is that the country may fall into an underconsumption crisis. Looking at the medium and long term, developing Asia's future is mixed. There is one group of countries with a highly diversified export basket. These countries have an excellent opportunity to thrive if the right policies are implemented. However, there is another group of countries that relies heavily on natural resources. These countries face a serious challenge, since they must diversify.
Subjects:Asia
China
global crisis
open forest
JEL:E61
O11
O53
O57
Document Type:Working Paper
Appears in Collections:Working Papers, Levy Economics Institute of Bard College

Files in This Item:
File Description SizeFormat
63592255X.pdf179.89 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/57039

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.