Robert;
<<I think I am correct in stating that most politicians are beginning to see devaluation as a recipe for disaster and will only do so as a last resort.>>
I think you are absolutely right. It becomes a question of tidal resistance I suspect. The question may become who will fall first as Japan, the one time leader and upon which so much of Asia's economic and business practices are patterned, falls inexorably to its own rotting infrastructure. In my opinion Taiwan, Hong Kong, China, and Singapore resisted this pattern with institutional rules and practices that eschewed the Japanese model to a larger degree then Malaysia, S. Korea, Thailand, and Indonesia. For one thing political and official corruption seems less rampant in the former then the latter.
Best,
Stitch
Best,
Stitch |
