Economists have assumed for some time that Asian economies would eventually be larger than the U.S. economy, mainly because the population is already large and some of the economies are relatively undeveloped with lots of room for upside growth. None of them expected it to happen this soon. One economist in this article in the International Herald Tribune thinks that the current recession was the turning point. Asia’s resurgence is still dependent on U.S. and European consumer spending, but economic development there has been extraordinary.
Economic realities will eventually translate into investment realities, so it is imperative that your investment policy be able to address changes as they occur.
