Word: asianized
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Dates: during 1990-1999
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Many, perhaps most, U.S. executives would still give that response. In their mind, the risks of investing in Asian economies that are still struggling to recover from a region-wide financial collapse far outweigh the bargain-basement prices now available. The deep recession in much of Asia looks likely to last through at least another year, then give way only to a very gradual recovery. That's at best; at worst, the recessionary cycle might still take one or more additional downward twists...
General Motors is also sticking its corporate toes back in the water. Last year the automaker had to halt construction of a plant in Thailand that was to produce a sort of upmarket Opel, mostly for export to other Asian countries. "Frankly, the market disappeared for that car," says chairman John Smith. But now GM is reviving--though also downsizing--its plans. Instead of 100,000 midsize cars a year, it intends to produce 40,000 seven-seat multipurpose vans annually. GM has also concluded what Smith calls "a strategic agreement" with Japan's Suzuki to "work together...
...Coca-Cola has taken over the bottling and distribution businesses of three former partners--Doosan Beverage, Woo Sung Food and Honam Food--and it is no secret that Coors is negotiating to take full control of Jinro Coors Beer. South Korea is one of a tiny handful of troubled Asian countries expected to resume some positive growth, however small, by late...
...chairman of Goldman Sachs, adds that the firm is planning to start a "recovery fund" targeted chiefly at Asia. Goldman's Asia president, Philip Murphy, indicates a major target will be consumer goods, which many others also consider an attractive field for U.S. investment. One reason is that some Asian companies are reorganizing their countries' chaotic distribution systems, replacing mom-and-pop stores with modern networks of warehouses and big retail outlets, but need outside cash to finish...
What is happening overseas is still not what you would call pretty. Many Asian economies will be slumping throughout next year, though more slowly than in 1998. Once a general upturn begins, perhaps in 2000, it will take years for those countries to regain the prosperity of 1996. And there are still pitfalls that may take intricate maneuvering to avoid...