Korean and Thai recovery led by consumer demand

Domestic demand is an important factor in the emergence of Asian economies from recession, according to Jonathan Schiessl, investment manager at Ashburton. 'Asian markets have generally been by far the best performers year-to-date,' he says. 'For the first time, domestic consumers in countries such as Korea, Malaysia and Thailand are driving their economies out of deep protracted recessions brought on by the Asian crisis in 1997.' Asian countries have undergone a considerable transformation since the Asian crisis, adds Schiessl. 'This crisis was a very painful but necessary corrective ...