I. Introduction
The current global recession has experts around the world searching for a solution in a place never looked to before. For the first time, Asian economies are leading the way out of a global economic slump. While the United States and Europe have pioneered past recoveries from world recessions, recovery seems to have already begun in Asia with China at the forefront. Massive government stimulus and expansionary fiscal policies have spurred growth in Asia with other strong economic indicators seemingly providing a foundation to a full-fledged recovery. Despite a drop in exports, Asian economies have offset the decline in this major source of revenue by slashing interest rates, keeping savings levels high, increasing infrastructure demand and harnessing the potential for expansion in domestic consumer demand. Many Asian nations are net creditors [1], with significant current account surpluses supplied by capital inflows over … Read the rest