But, according to the Asian Development Bank, 60% of Asia's exports (not including Japan's) still go to America, the European Union and Japan.

ECONOMIST: Asia and the crisis

Following in the footsteps of downgrades by other intergovernmental organizations, the Asian Development Bank cut its growth forecast for Asia's developing economies, including China, India and South Korea, to 3.4%, from 5.6%, marking the slowest pace in a decade.

FORBES: Magazine Article

The Asian Development Bank (ADB) has cut its growth forecast for Asia for this year and next, as economic problems in Europe and the US hurt developing countries.

BBC: Asian Development Bank cuts growth forecast for Asia

Ruben Canlas, Web Information Systems Consultant at the Asian Development Bank, Belina Capul, President of the South East Asia Pacific Audio Visual Archives Association (SEAPAVAA) and Ray Edmonson, Director of Archive Associates, Australia and a UNESCO Memory of the World Committee Member.

UNESCO: Education

"Developing Asia's recovery phase remains vulnerable to shocks, " the bank said in its Asian Development Outlook report.

BBC: Asian Development Bank forecasts fragile 2013 recovery

Asia's emerging economies will pick up in 2013 but the recovery will remain fragile, according to the Asian Development Bank (ADB).

BBC: Asian Development Bank forecasts fragile 2013 recovery