Could Asia Withstand a U.S. Slowdown?

Rising domestic demand, more diversification in exports, and a looser monetary policy give Asia some armor against what causes pain in the U.S.

In a speech on Tuesday, former chairman of the Federal Reserve Alan Greenspan played down the effect of his words on the world's financial markets. "There's a general view out there that I have more influence than I know I have," Greenspan told a gathering hosted by the Commercial Mortgage Securities Assn. in New York. "I get accused of inducing market changes, really because I was standing next to the market when something else happens."

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