The theory of Asia ‘decoupling’ from the world recession is disproved, as China’s economy is rapidly slowing, with millions of jobs lost and a review pending on its export-led strategy.
WHAT a difference a few months make! When the US sub-prime mortgage crisis was evolving, many analysts theorised that Asian economies were “decoupled” from the Western economies, and would continue their strong growth, especially with China pulling the rest along.
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