Asia is moving toward a self-sustaining cycle with on-going trade surpluses, with banks in better financial shape than in the West. Banks in developing countries are looking forward to a decade of profitable growth.
Latest data from Singapore shows that demand for new residential properties has fallen in June 2012 for the second consecutive month. Sales volume for private residential units went down by 20 per cent.
Taking a look at the recent Asia Pacific GDP growth statistics you could be forgiven for thinking that there are storm clouds on the horizon. All the major countries in the region have had their GDP forecasts revised downwards.