The world is losing $ 50 trillion by the financial crisis

Some experts believe that the global economy is at a crossroads
The world lost $ 50 trillion of the value of financial assets during 2008, including 9.6 trillion dollars in Asia alone due to the global financial crisis. While Japan recorded the largest economy in the continent's first current account deficit in 13 years.
The Asian Development Bank said that the financial assets in Asia lost 9.6 trillion dollars in value in 2008, which is higher than the GDP in one year.
The bank said that Asia was hit hard by the economic crisis Alaalmipalte led to a dramatic loss of capital in all parts of the world is estimated at 50 trillion dollars.
According to a new study issued by the World Today, Asia has suffered the most from other parts of the developing world, because the region's markets have expanded much faster, indicating that the value of financial assets to GDP rose from 250% in 2003 to 370% in 2007 .
The study said that most emerging market economies stands at a crossroads and that the 12 to 18 months ahead will be very difficult and can only imagine a recovery in late 2009 and early 2010.
The inability of standard
This comes at a time when Japan announced it had registered a record deficit in the current account balance amounted to 172.8 billion yen ($ 1.8 billion) during the month of January last, a deficit the first of its kind in 13 years.
The Japanese Finance Ministry said that the Japanese economy, which relies mainly on exports were badly affected by the global decline the request of the cars, goods and technology equipment, threatening the exposure of Japan's worst recession since World War II.
The ministry pointed out that the exports decreased by 46.3% compared with the previous year to 3.282 trillion yen (33.8 billion U.S. dollars), while imports decreased by 31.7% to 4,127 trillion yen (42.54 billion U.S. dollars).
The trade balance recorded for goods and services deficit of $ 1.1002 trillion yen (11.3 billion dollars), while the trade deficit in goods to 844.4 billion yen (8.7 billion dollars).

Sign up today Nikkei lowest close in more than 26 years
Shares drop
Announcement came on the deficit at a time when Japanese shares ended the morning dealings in Tokyo Stock Exchange on the decline, as fears related to the financial sector in the United States.
The Nikkei lost 87.07 points, or 1.21% up to 7.086.03 points, its lowest closing level in more than 26 years.
The broader Topix index fell 10.86 points, or range 1.51% to reach 710.53 points, its lowest closing level since 25 years.
On currency markets, the dollar rose against the yen to reach 97.94-97.99 yen compared 97.35-97.37 yen
The euro also rose against the dollar up to U.S. $ 1.2712-1.2717 compared 1.2694-1.2696
The European currency also rose against the Japanese yen to a record 124.53-124.58 yen against 123.58-123.62 yen