This year’s Asian Development Bank annual meeting takes place on the European side of the Caspian Sea in Baku, Azerbaijan. While that may seem an odd choice for the Manila-based institution, it does provide an excellent backdrop for many of the talking points troubling the more Eastern parts of Asia. For one, Azerbaijan is extremely exposed to falls in oil prices. As it relies on oil and gas for 95% of export revenues, last year’s plunge in crude prices forced policymakers into a reality check. The Azeri government is redoubling its efforts...Read more