Debt Contagion spreading to Asia?

Blogman's Notes: 


While Europe has been in the Economic spotlight lately, the other behemoths of the Global Economy, the US and Asia have been overlooked as equally troubled zones. What is brewing out there is the perfect Global Economic Storm, and when the European, Asian, and American Economic hurricanes converge, it will be  Super Economic Storm, the likes of which the world has never seen. Reports are leaking out of Asia about China and India that must be causing some sleepless nights for policy makers in Beijing and New Delhi. Japan is printing money fast and furious to stave off collapse; the very policies that caused the problems in the first place, the problem of too much debt, are being followed by policy-makers everywhere. This game does have an end, and that end will literally mean the end of the world as we know it.
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From The Extinction Protocol: 


More countries in Asia falling under the shadow of debt- Indonesia facing crisis / Posted on May 16, 2012 

May 16, 2012 – INDONESIA – The World Bank has announced it’s ready to provide Indonesia with a $2 billion loan, a backstop against a potential debt crisis in one of Asia’s fastest growing economies. The World Bank said the loan, requested by the Indonesian government, would be held as a contingency against “possible future shocks and volatility.” While Indonesia has long seen growth rates that would be the envy of the United States or European nations, the economy has slowed recently thanks to a drop in export demand. Jakarta and the World Bank will hope the loan sends a message to markets that Indonesia has the firepower to withstand moderate shocks, as it moves to implement economic reforms. Though Indonesia currently enjoys better terms of borrowing than some indebted European nations, its budget remains vulnerable to external shocks. Any deepening of the crisis is the eurozone or a slowdown in China or the United States would hit the Indonesian economy hard. Exports account for around 26 percent of gross domestic product. But for now, the country appears to be weathering the storm. According to the Bank of Indonesia, the country will pay an interest rate of 3.85 percent on 10 year bonds, more than Greece pays for three month bonds. -News