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Asia’s role as the world’s growth engine is waning as economies across the region weaken and investors pull out billions of dollars.

The Indian rupee fell to a record low yesterday, Thailand is in recession, and Indonesia’s widest current-account deficit pushed the rupiah to the lowest level since 2009. Chinese banks’ bad loans are rising, and economists forecast Malaysia will post its second straight quarter of sub-5 percent growth this week.

 

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