You could include other countries and regions, such as the euro area, for instance, but it would only complicate matters and not add much to the analysis. In respect of returning to economic growth, Emerging Asia and Latin America seem to be ahead of the US, whose growth is still fragile.
So, logic would suggest that Emerging Asia exits first from the extraordinary post-crisis measures, then Latin America and finally the US. This “optimal” sequence would mean that Emerging Asia tightens its policies as the economy gets back on track, thus avoiding domestic overheating and financial instability.