Time for differentiation: HSBC
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South Korea, Taiwan, the Philippines, Vietnam, Thailand and Malaysia are singled out as the Asian emerging markets of which growth prospects remain positive despite the current global chaos.
"Amid all the talk about the end of the emerging market era....do you really expect the West to deliver growth rates beating these economies in the near future?" asked Frederic Neumann, co-head of Asian economics research of HSBC.
In his research "Need for differentiation", the economist said these markets should do reasonably well, at least cyclically and compared to expectations.
"It's time to shake excessive pessimism and look at countries individually, rather than lump all emerging markets into the same, unloved basket. China is no longer sliding, the global industrial cycle is ticking up, and, really, how high can rates go with the Fed printing money?"
