Profiting from Asian Stocks' Plunge over Global Economic Growth Concerns

Asian stock markets continued to fall during Wednesday trading as concerns over America's economy continued to overshadow the recent positive news that the United States was able to avoid a default on its debt. Asian stocks began the week on the upswing after it was announced that President Barack Obama and Congressional leaders were finally able to reach a compromise to raise the federal debt ceiling, which prevented the United States from defaulting on its debt. However, a closer look at the deal reveals that it will allow America's debt to continue to climb, while spending will be cut. The news that the United States is joining troubled eurozone countries in reducing spending in the midst of slow economic growth does not bode well for Asia's export driven economies. With so many of their important export markets facing possible recession, Asian stock prices have plummeted over the last two days. Although the United States narrowly averted having its credit rating downgraded by the three major ratings agencies of Moody's Investors Service, Fitch Ratings and Standard & Poor's, a little known Chinese rating company called Dagong Global Credit Rating lowered its rating of America's debt from A+ to A with a negative outlook and Moody's also placed a negative outlook on America's credit rating. Dagong Global Credit Rating voiced Asia's concerns over slow American economic growth when it said that "the US Congress has not come up with a positive resolution on how to address the problem of insufficient driving forces for national economic growth, which indicates that the US government cannot resolve the fundamental influence of low economic growth, high deficit and increasingly higher debt." Although some may consider the downgrade of American debt by a little known Chinese rating agency as a political move, it's worth noting that the Chinese are very concerned about the value of US bonds because the Chinese government holds nearly $1.2 trillion worth of American debt. Most Asian stock markets were down nearly 2% by the time that stock markets ended trading on Wednesday in Asia. The KOSPI Composite Index of Korean stocks plunged 55.01 points, or 2.59%, to end the Wednesday trading session at 2,066.26. The Nikkei 225 index of Japanese stocks dropped 207.45 points, or 2.11%, to end Wednesday trading at 9,637.14. The Hang Seng Index of Hong Kong traded stocks fell 428.74 points, or 1.91%, to end the day at 21,992.72. The TSEC weighted index of Taiwanese stocks was down 127.86, or 1.49%, to reach 8,456.86 by the end of Wednesday . The Straits Times Index of the Singapore stock market finished 46.75 points lower, or 1.47%, to end the day at 3,130.34. As the United states and the troubled countries of the eurozone continue to slash spending, there's valid concern that their economies will slow even further. If this scenario plays out over the next year, Asian economies that depend on exports will feel the pain too. The ProShares UltraShort FTSE China

ETF and the ProShares UltraShort MSCI Japan

ETF are investments that could see significant upside if recent fears in Asia over global economic growth turn into economic reality. The PowerShares DB Commodity Index

, which invests in a basket of commodities, is another pick for investors who are looking for an alternative to stocks and bonds during a time of economic uncertainty when even the United States government's ability to pay its bills is being seriously questioned. Investors who want out of US dollars and European euros may want to move some of their funds into the CurrencyShares Swiss Franc Trust

. The value of the Swiss Franc has benefited from the country's strong fiscal position and the Swiss Franc is increasingly seen as a safe currency for cash holdings.