External affairs driving Far Eastern economies

External affairs rather than domestic issues are driving Asian economies, according to fund managers. Bob Hrabchak, fund manager at Credit Suisse Asset Management, says: "The downturn in the region is not being driven by current account deficits across Asia or spending by Asian companies, but by US demand for the region's goods and services." He explains that the share prices of many companies throughout the region have been under pressure and are looking cheaper than they have for a long time. The situation looks set to continue, with US firms producing a series of profit warnings a...