World Business

A Prudential Move - Jane Peterson

As Europe's economic crisis continues Asian stocks also took a hit from foreign investor selling, while the depreciating Euro makes Asian goods more expensive in one of its biggest markets. Yet despite the turmoil, growth projections remain high, as does interest from western companies keen on increasing their foothold in the region. The latest example is Prudential's move to acquire AIG's Asian Insurance arm AIA and another sign that the world's balance of power is shifting.