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Asia Leads the Global End to Cheap Money
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The U.S. Federal Reserve has just kick-started its cautious exit from unprecedented emergency lending measures — but the process has been going on for months in the Asia-Pacific region, underscoring the two-speed path of the global recovery.
Countries from Australia to China have been leading the global march away from easy credit as their economies rebound strongly, while Europe and the United States are still trying to find a solid footing.
“The historic shift in the center of economic gravity to the Asian region is continuing, and if anything it has been highlighted by the different performances during the crisis and initial recovery,” Glenn Stevens, the governor of Australia’s... Full Story |
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Submitted Feb 19, 2010 10:21am
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