Asia in the Global Economy

"There is an ongoing discussion on the possibility of a double-dip recession, but the IMF does not believe there will be such a double-dip... One of the lessons of this crisis is that there is no domestic solution in a globalized economy. Therefore, there need to be globalized solutions. Slow growth in Europe - which represents about 25% of the global economy - cannot be without consequences for Asia... My second point is that - in looking to the future - the continuing recovery of Asian nations needs to be closely watched... This recovery cannot solely rely on exports. A second engine of growth will be needed..."