The global financial crisis of 2007-09, and the Great Recession that it engendered, were both a challenge and an opportunity for Asia. The region not only remained unharmed by the global financial crisis initially but also recovered the fastest. In addition, it was also the principal driver of the global recovery.
This book analyzes the impact of the global financial crisis and the Great Recession on the Asian economy. Chapters look at the most significant issues related to the Asian economy during the crisis, how it coped with them and how it eventually emerged from them. Dilip K. Das discusses how the Asian economy, particularly the emerging-market economies, spearheaded the recovery of the global economy from the global financial crisis and recession, and goes on to look at how this is of historical significance.
Written in a clear, comprehensive and critical manner, this book covers the contemporary academic and policy debates on Asia’s role in the world economy. As such, it is an essential read for students, researchers and public policy professionals interested in Asian Economics as well as studies in the International Political Economy.
"Das specifically targets his book at students in business schools and in master’s level programs in fields such as economics and international relations. And the book […] comes across as using a scope of analyses and methods of presentation that would suit students of these levels, as well as researchers who are looking for a concise, detailed, and data filled analysis of the short-term impact of the crisis on Asia and the responses of Asian states to the crisis […] Das' book provides a helpful data-filled but not overly mathematical short-term overview of the great recession, its impact on parts of Asia, the policy responses of Asian politicians, and the successes of these responses." - James Parisot, Ph.D., Binghamton University (SUNY), in the Journal of International and Global Studies, 3:2, (April 2012)
'Overall, Dilip K. Das makes a convincing case that the Asian economies, particularly the emerging markets, have played a major role not only in reshaping the global economic landscape, but also in leading the global economy out of recession. The book is well suited for anyone who is interested in studying the global financial crisis and the role of the Asian economies. Targeted for a wide range of readers, the book is neither overly technical nor highly model-oriented.' - Congsheng Wu; JOURNAL OF CHINESE POLITICAL SCIENCE (2013)
1. The Global Financial Crisis: The Great Recession and the Recovery 2. The Asian Economic Architecture before the Global Financial Crisis 3. The Global Financial Market Turbulence and Its Impact on the Asian Economy 4. Asian Economy Spearheading the Global Recovery 5. Leadership Role for the Asian Economy in Reshaping the Global Economy 6. The Chinese Economy and the Global Financial Crisis: A Strategic Response