Photo: Thatcher Cook for Mercy Corps

Will America's economic troubles spill over to South Asian markets?

India, because of its close economic ties to the U.S., could get caught up in the downdraft. Rising inflation rates are causing the country's conservative commercial bankers to squirm in a country usually considered the poster child for modernization. India ships more of its goods to the U.S. than to any other country — so if Americans curtail their spending in an economic slowdown, Indian businesses could lose big.

How can India maintain its high rate of economic growth despite the U.S. slowdown?

The Brookings Institute calls for India’s government to economically reform by addressing its major inefficiencies in connecting the rural poor with the mainstream economies. BusinessWeek points out the need for reforms in agriculture, infrastructure, health care and education. But it adds that reform "is the last thing" on the mind of India's ruling Congress Party.

Although Cuba's new leader says he will continue to run the country under a socialist framework, economic changes may soon be underway.

According to The Economist:

In his speech, Raúl also gave broad hints of economic changes. He recalled a commitment by Fidel in 2005 gradually to revalue the peso. Since many prices are set in hard currency, that is essential if wages are to rise above their average of $20 a month. This would take time, he said, but would involve moving away from the state-run rationing system and taking more account of wages and prices. That amounts to a move towards market mechanisms. And he praised decentralisation.

Some predict that Cuba will try to mimic progress made in Vietnam in Cuba by embracing markets while still adhering to the concept of socialism. This would be a substantial change for Cuban economic policy.

Today allAfrica revealed how increased funding to the UN's Rural Livelihoods and Economic Enhancement Program will teach Malawi's farmers how to benefit from increased market competition in the agricultural sector.

The program seeks to encourage production based on market needs rather than traditional small scale subsistence needs.