East Asia examines risks of being dependent on exports

03/5/2009 | International Herald Tribune

Collapsing export markets, described in East Asia as a "financial tsunami," have forced Hong Kong, Singapore and Taiwan to reconsider their dependence on consuming nations. As Taiwan's president said, when times were good, policymakers were praised for expanding exports, but "now that times are bad, we think we should attach more emphasis on domestic demand instead of putting all our eggs in one basket."

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