Where Are We Compared to Sept. 15, 2008?
John Mauldin
October 10, 2011
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The developed world seems to be focused on
Europe, and while the next crisis in indeed brewing there, we must not
forget that Asia is a large part of the future and major contributor to world
GDP. My friends at GaveKal are based in Hong Kong and have staff in most Asian
countries or are in them on a regular basis, so I read their Asian views with
interest. Today's Outside the Box is their latest Five Corners – Asia edition, where they look at China,
Thailand, and Vietnam, as well as Asian growth, contrasting it to that of the
"developed world."
It is good for us to remember that not
everything rotates around US politics or European sovereign debt. Our crises
shall pass, and Asia will still be there and growing. And for what it's worth,
my personal plan is to start visiting Asia a lot more in the future. It looks
like I may be in Hong Kong in January, but more on that at some later point.
Your feeling like some Chinese takeout analyst,
John Mauldin, Editor
Outside the Box
JohnMauldin@2000wave.com
GaveKal
Five Corners—Asia
Where Are We Compared to Sept. 15, 2008?
Joyce Poon, Cathy Holcombe, Gavin Bowring
The extreme market movements seen
recently in Asia are reminiscent of the dark period that hit the region in late
2008. Lehman's bankruptcy and the subsequent shock to global trade and demand
showed that Asia's positive fundamentals can disappear in the blink of an eye
if OECD economies go awry (see Daily—A Binary
World after Fed's Latest Move). Yet the
recovery from crisis also...
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