Trading Conditions
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Quotes from Credit Agricole CIB Research:
-Asia is no longer growing through trade. Trade is likely to limit Asia's GDP growth, after subtracting 1.1ppt from the pace of YoY expansion in Q4.
-Recession in Europe and a weak recovery in the US bode ill for Asian exports. Vietnam and China are most exposed to the US and the Eurozone combined, while Korea is least exposed.