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The Global Financial Crisis and AsiaImplications and Challenges$
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Masahiro Kawai, Mario B. Lamberte, and Yung Chul Park

Print publication date: 2012

Print ISBN-13: 9780199660957

Published to Oxford Scholarship Online: January 2013

DOI: 10.1093/acprof:oso/9780199660957.001.0001

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Decoupling of East Asia: Myth or Reality?

Decoupling of East Asia: Myth or Reality?

(p.124) 6 Decoupling of East Asia: Myth or Reality?
The Global Financial Crisis and Asia

Yung Chul Park

Oxford University Press

Most of the studies on Asia's “decoupling” cover the period before the 2008 global financial crisis. In view of the faster recovery East Asia from the 2008 global economic crisis, it would be interesting to examine whether the crisis has changed the structure of trade linkages and financial spill overs between East Asia and the rest of the world to lend credence to the decoupling thesis. For this purpose, this chapter identifies some of the factors that are likely to cause the decoupling, analyzes East Asia's experience with the 2008 global crisis to examine whether the crisis has strengthened the case for the decoupling, and discusses the prospects for the decoupling in the future.

Keywords:   East-Asian economies, causes of crisis, financial crisis, decoupling, trade linkages

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