Global Financial Tsunami and Asia: The Way Forward.

The article focuses on the effects of 2008 global economic crisis in the Asian stock markets. The author emphasized some vulnerabilities of the markets which include greater financial integration exposure, an increase of export marketing in the U.S. and European Union (EU), and the declination of secondary transmission channels such as remittances, tourism receipts and investments. Moreover, information regarding the guidelines on how to overcome the vulnerabilities is also discussed which includes the establishment of bilateral swap arrangements introduced by Association of Southeast Asian Nations (ASEAN), coordination of financial and trade policies and the importance of fiscal economic stimulus package.