Glenn Stevens, the governor of the Reserve Bank of Australia, on Wednesday said advanced economies must play a part in rebalancing the global economy and provide more goods and services to meet Asian demand.

At the Australian Business in Europe, in London, Stevens said: "From a global perspective, what we need is not so much faster domestic demand growth in Asia, but a way of supplying more of Asia's demand for goods and services from the parts of the world where excess supply remains – mainly