"In South Korea, Thailand and even Indonesia, all of which suffered big currency devaluations, the volume of exports has risen by 20-30% over the past year. This suggests that those much-criticised evaluations are doing just what they were meant to."
Stitch,
Thank you for the story. Good to hear some positive news for a change. Maybe you caught the very first, tiny glimmer of hope towards a change in sentiment regarding the Asian Crisis? It always seems to start very, very, slowly and then builds.
I remember when the very first stories that broke, coming out of Thailand in July, about the run on grocery store supplies. It was mostly ignored by the US financial press until our October crash. Maybe the Asian recovery will follow the same pattern of coverage.
Thanks,
MikeM(From Florida) |
