When the effects of the global financial crisis swept over Asia in September 2008, the previously growth-oriented economies of China and India were knocked down as hard as economies in the West. But one year later, Asia was on the rebound faster and stronger than experts would have predicted.
The experts, say management consultants Andrew Cainey, Suvojoy Sengupta, and Steven Veldhoen in “Capturing the Asian Opportunity” (Strategy + Business, Winter 2009), had underestimated Asia’s “healthy fundamentals.”
Economic Recovery in Asia
It had been assumed that the largest economies in Asia were growing thanks to increasing exports to the United States and Western Europe. When the debt crisis struck U.S. banks and impacted the economies of their economic partners, the global demand for goods dropped dramatically and has yet to recover.
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