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Should we worry about potential contagion to weak eurozone peripheral countries? I don't think so, as the current account balances of Greece, Italy, Portugal, and Spain have all virtually improved to zero, compared to India's 4.8 percent deficit.
There was consensus in Daejeon this week that Asia has emerged from the crisis as an economic powerhouse. While initially hit hard, Asia has been able to bounce back quickly and return to a strong growth path.