Against this background, changes in Asian dynamics are beginning to reshape the contours of the US-Asia relationship. With these things in mind, I will address four facets of today's Asia: booming economies, rising regional cooperation, looming challenges, and evolving relations with the US. II. Booming economy  Following the economic crisis in 1997-98, the economies in south-east Asia have made a strong recovery.
The Bank now expects the economy to reach full capacity in the second half of 2014, later than anticipated in October. •  Core inflation has softened by more than the Bank had expected, with more muted price pressures across a wide range of goods and services, consistent with the unexpected increase in excess capacity.