Asia's emerging economies probably grew at an average annualized rate of over 10 percent in the second quarter, while America's GDP fell by 1 percent. In 2009 as a whole, recent forecasts suggest that emerging Asia could grow by at least 5 percent, while the G7 economies contract by 3.5 percent. The growth gap between the two has never been wider. How have these export-dependent economies managed to decouple from the developed world? And can their recovery last?
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