A New Perspective on Asia
About a month ago, I decided to quit my job at a Bay Area, California startup and took a plunge to explore Asia. Here I am in Singapore giving an update. After spending some time in Indonesia and China, I have convinced myself that it was not a bad decision after all. In fact, there could not be a better time to be back.
Economic growth has shifted from the West to the East. The United States is still trying to recover from its bruised economy, while Europe is currently swimming towards a financial storm. The destabilization of the European Union’s economy due to the PIIGS countries (Portugal, Ireland, Italy, Greece and Spain) would further dampen the already low economic growth of the western world. According to the April 2010 World Economic Outlook by the International Monetary Fund (IMF), Europe and the United States is projected to grow on average about 2%, while Asia will grow at least three times as fast.