For years, the Asian economy has been generalized, categorized and stereotyped to death. First there were the miracle stories of the ’80s and early ’90s that had Japanese and Korean companies besting their American counterparts in almost every way. Then came 1997’s collapse with some even questioning the future of globalization as an economic model. Now we’re seeing a flurry of news stories pointing to a strong rebound in many parts of Asia.
What’s really going on? Good question. That’s what led us to devote this week’s banking and finance special report to the Asian rebound and whether it’s yet being felt in Los Angeles. Not surprisingly, there is no definitive answer; some sectors look stronger than others, though most everyone agrees that the current uptick pales next to activity in the mid-’90s. Even real estate investors who have been looking to bottom fish in Japan and South Korea are finding a hot and cold market.
This week’s package of stories, punctuated with an excerpt from Thomas Friedman’s best-selling book, “The Lexus and the Olive Tree,” might help decipher things.
Mark Lacter
Editor
