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The Ill Wind from the West

NEW DELHI – At the nadir of the financial crisis four years ago, many Asian governments came to believe that robust growth had led to a near-“decoupling” of their economies from the West and its ongoing problems. But now, as the eurozone teeters and America’s recovery weakens, Asia, too, is showing signs of faltering.

Some Asian politicians will, quite conveniently, blame the West for any softening of growth. But their failure to pursue necessary structural reforms and economic opportunities is equally responsible, if not more so, for the region’s growing travails.