In times of global crisis, Asia emerged as a winner and according to the Reserve Bank, the main reason for this has been that economies around the continent relied more on banks instead of financial markets for risk management.

Philip Lowe, RBA Assistant Governor, in his latest speech, shared, "The fact that in Asia there is less reliance on financial markets, and more on financial institutions and the central banks have large holdings of foreign reserves, have contributed to the resilience of the region's financial systems".

According to Lowe, things throughout Asia have happened much differently during the current financial downturn, in contrast to what had happened roughly a decade back during the Asian financial crisis. This time around, Asian economies have managed to hold up well.

Most economies around Asia, most notably China, have reported growths even during the global financial crunch. For the July-September period for the current year, the country reported a 8.9% rise as compared to the figure posted for the same period last year. Even Australia, which is linked to Asia via commodities exports, grew by 0.6%.