This book examines the current global economic crisis through the lens of the Asian region, reviewing how different regions of Asia were affected, and identifies the challenges that Asia faces in a financially integrated word. It surveys Asian and global initiatives for rebalancing growth, highlights the impact of the crisis on poverty and the millennium development goals, and provides a detailed analysis of individual country responses and prospects. The book goes on to discuss policy measures adopted by Asian countries to manage and resolve the crisis, and to prevent a similar crisis from recurring in the future, discussing issues related to the reform of the international financial architecture. As the world emerges from the crisis, the book assesses what has been achieved so far, where Asia stands at the beginning of the new decade, and what more needs to be done to successfully manage financial globalization in the future. This book is indispensable reading for all interested in Asian studies, economic development, macroeconomics, international economics and finance and business cycles.