BLOOMBERG ¨C The day Asian leaders have long dreaded is here: The era of rapid growth is over.
It has taken five years, but the fallout from what Asians call the ¡°Lehman shock¡± is finally hitting gross domestic product and living standards. These risks are the talk of Bali, where Asia-Pacific Economic Cooperation nations are mulling what to do about a world where ¡°risks remain tilted to the downside.¡±
There, Michael Taylor, chief credit officer for Asia at Moody¡¯s Investors Service, said chaotic markets and a slow recovery in advanced nations is driving a ¡°change in the economic cycle¡± that makes sustaining growth in the region ¡°more challenging.¡±
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