China emerging as next big thing

After the collapse of the Far Eastern stock markets in 1998, a number of Asian emerging markets have come back with a vengeance. The current combination of external surpluses, strong domestic liquidity and rapid corporate restructuring in many Asian countries is extremely positive for long-term investors. The main reasons for enthusiasm on Asian markets are as follows: The region's economies have passed the bottom of the cycle and domestic consumption is now picking up in many countries; valuations are still attractive on a global perspective; Corporate governance is improving, though hic...