The global crisis of 2007–09 affected developing Asia largely through a decline in exports to the developed countries … long term, developing Asia’s future is mixed. There is one group of countries with a highly diversified export basket … diversify. -- Asia ; China ; global crisis ; open forest …

This paper argues that the single most important factor that explains East Asia's development success was its fast … as the "engine of growth." It is in the context of industrialization that openness played an important role in East Asia … exchange) and industrialization. Part 1 of the paper documents the extent of structural transformation in developing Asia …