Masahiro Kawai, an official at the Asian Development Bank, this week urged the region to prepare for a slump in the dollar, the probability of which he compared to that of a global bird-flu epidemic: it is far from a certainty but would have a tremendous impact if it happened.

ECONOMIST: The region's currencies stay strong amid the squalls

"It has started taking a more realistic view, given the depth of the economic contraction, " says World Bank economist Kawai Masahiro.

CNN: FROM BAD TO WORSE