The World Bank forecasts slower economic expansion for developing nations in East Asia this year due to weakness in China, and urges governments in the region to look domestically for growth rather than relying on exports.

Asia markets plunge, with European concerns bruising sentiment, and with stocks in Tokyo deepening losses after the Bank of Japan fails to announce any new easing measures.

Unlike the euro zone, which is mired in a debt crisis that has exacerbated the economic downturn, Poland, Turkey and a small group of other countries outside the currency bloc are thriving. The financial sectors in these countries are one of the reasons.

Turkey and Poland are on the fringes of Europe, but investors will be beating a path to their doors in just a few years, some analysts say, so now is the time to get in.