Recent years have witnessed an expansion of the channels of integration within the Asian region, built primarily on strong macroeconomic performance. Asia accounts for more than 30 per cent of world GDP and contributes half of global growth.
Government bond markets  Primary markets The primary markets have worked reasonably well in light of the severity of the financial and economic crisis. The uncertainty in the financial markets, coupled with risk aversion among investors, led to rising demand for risk-free assets, including government bonds.