In Asia the impact of the global crisis has been most severe through the trade channel, said Bandid Nijathaworn, a deputy governor of the Bank of Thailand.

Nijathaworn said the next important challenge for emerging markets in Asia would be a sustained economic decoupling. He said it would be difficult without a major restructuring in the sources of growth which, in the case of Asia, called for less reliance on exports and more on domestic demand. He said making this transition safely in the era