Improved corporate governance and governments tackling weak banking sectors mean the region is in a good position to benefit from a pick-up in demand from the US
To say that 2002 was a difficult year for financial markets would be an understatement. Apart from a liquidity-driven rally in the first quarter, it was mainly downhill for economies globally. Weakening economic conditions provided the backdrop for the sharp falls in stock prices. The pace of the decline increased over the summer, coinciding with rising risk aversion, which benefited bonds and safe-haven commodities like gold. External uncertainties including the prospect of a war in Iraq, tensions in North Korea and the Bali bomb blasts also cast a shadow. Against this less-than-favou...
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