Asia Crisis Veteran Zeti Sees Region Surviving U.S., Europe Risk

Asia’s rising domestic demand and strengthened financial systems have made the region more resilient to global shocks even as slowing U.S. growth and the European debt crisis pose threats, Malaysia’s central bank Governor Zeti Akhtar Aziz said.

Another global recession is unlikely and risks to growth probably won’t materialize, Zeti said in an interview in Jakarta late yesterday. The chance of an economic contraction is less in Asia, said Zeti, one of the region’s longest-serving governors who oversaw Malaysia’s monetary and currency responses to the Asian financial crisis more than a decade ago.