Asia is no longer the risky bet

Forget your preconceptions about Asia ' the Old Asia that went for growth over profitability, size over quality. After all, corporate Asia and the providers of capital to them learned that Western methods were usually superior to the 'Asian Way' in the Asian Crisis of 1997/98. Since that time Asia Inc has closed down loss-making plants and diverted capital from crony or group affiliate white elephants to new, exciting ventures. The market for capital is getting to work ' punishing the losers and rewarding the winners. Bull markets in stocks such as Huaneng Power (HNP ADR in US dollars...