Can Asia maintain high growth on its own?

By Herbert Poenisch

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The answer is a simple “No”. From production and financing to distribution and consumption, the world’s economies, including those in Asia, are too tightly integrated for that to be possible.Bank for International Settlements, Basel, Switzerland.Jawaharlal Nehru Port, Mumbai, India.Kobe Port, Japan.Gurgaon skyline, India.Ever since the global financial crisis began in 2008 in the advanced economies and pulled down the world economy (which was then further aggravated by the fiscal crisis in Europe), a debate has raged on about whether Asian...

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Herbert Poenisch

is a retired senior economist at the Bank for International Settlements.