Even though Asia is still perceived to be the global economic growth center, there are signs of potential dangers of the regional economy heading toward a collapse because of a vicious circle of inflation and wage increases brought about by huge sums of speculative money being poured into Asian countries.
On the surface, Asia may appear to be assured of continuous high economic growth for the next 10 to 20 years, judging from brisk public-works projects and expanding sales of foodstuffs, daily necessities, home appliances, motorcycles and cars, as seen not only in China and India but also in nearly all other parts of the region, such as Vietnam, Thailand and Indonesia.
A closer look, however, would reveal that both policymakers and business leaders in Asian countries are investing their money without any purpose or target, as they are deluded by the "myth" of growth created by industrialists and financiers in the advanced nations.