This paper asks how Asia should prepare for the disorderly correction of global imbalances. It recommends tightening monetary policy and allowing Asian currencies to appreciate as a way of achieving a better balance between internal and external demand. Leaving the overall level of demand...

The remarkable economic growth of Asia has been the defining feature of the second half of this century. This book offers a comprehensive overview of the scientific, technological and economic factors which enabled Asia to make such a strong comeback after centuries of oppression. This...