On the economic downturn in Asia.

• Author: Rees, Matthew
• Position: Asia

Among the tigers, overseas trade is shrinking with frightening speed: Taiwan's exports in January plunged 44 percent from the same month a year earlier, while Singapore's fell 35 percent and South Korea's 33 percent. Overall economic growth is following suit. In the fourth quarter of 2008, Taiwan's GDP contracted 8.4 percent from the same period a year earlier, the worst quarter on record. South Korea's GDP shrunk 3.4...