As exports to U.S. fall, Asia must look for domestic demand

09/30/2008 | International Herald Tribune

The latest financial crisis hitting Wall Street during the past weeks jolted Asia to reconsider its export-led model of economic growth. For many Asian countries, the U.S. is a huge part of their export market, and they have meager domestic demand on which to fall back. Asian economies will have to start seriously strategizing on how to stoke domestic demand, often requiring more liberalization, the end of protection policies and a better financial system.

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