Word: consumerized
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No one is willing to predict when a bottom might be reached. Even if the U.S. Congress passes a bailout, that could be just the beginning of what looks to be a long and painful economic unwinding for Asia. That's because exports to the U.S. are crucial for economic...
Indeed, falling U.S. consumer spending and the drying up of credit create big problems for Asian companies that may not be reflected in their current stock prices. "We have not yet seen the impact in the corporate sector yet," says Irene Cheung, a corporate director in ABN Amro's Asian...
But even if analysts outside the U.S. are confident a deal will get done in Washington, no one believes that will put an end to the current bad news. A bailout would be just the beginning of what looks to be a long and painful unwinding for Asia, for example...
That drop in U.S. consumer spending along with the drying up of credit could well create a huge problem for Asian companies yet to be reflected in their stock prices. "We have not yet seen the impact in the corporate sector yet," says Irene Chung, a corporate director in ABN...
Then consider the wealth effect, much debated but empirically documented, which suggests that every dollar of increased household wealth will, over a period of time, convert to 3 to 5 cents of spending. Calculators, please: 0.03 times $1.2 trillion equals $3.6 billion in spending. In an economy that is two...