Their exposures to the current crisis were also limited, because of lower financial integration and because their reserves were invested in safe assets. While the business cycle in these export-oriented economies is affected by demand from the West, their trend growth has clearly decoupled.
Emerging Asia recorded an average annual growth of 8.5% per year over the last decade, against only 1.7% for advanced economies. The financial crisis has only accelerated the shift in the economic balance of power in the world, which has important consequences. It for instance changes the composition of international organisations like the IMF and the BIS.