Being open and particularly dependent on trade with G2, the Asian economy should have suffered greatly during the Great Recession. Yet, the region has performed remarkably well. The strength of domestic demand is only a part of the explanation. The other important part is a rising economic integration, featured by, among others, growing intra-Asian trade and trade between Asia and other emerging market economies. This book argues that this trend is likely to continue even with the G2 recovery, because it can provide better opportunities for a more balanced and sustainable development. The...

This book discusses the risks and opportunities that arise in Emerging Asia given the context of a new environment in global liquidity and capital flows. It elaborates on the need to ensure financial and overall economic stability in the region through improved financial regulation and other policy measures to minimize the emergent risks. "Managing Elevated Risk: Global Liquidity, Capital Flows, and Macroprudential Policy-An Asian Perspective" also explores the range of policy options that may be deployed to address the impact of global liquidity on domestic financial and socio-economic...