Firstly, one of the largest investments, and without doubt the most important, made in Asia in recent decades has been in human capital. The Asian commitment to education has been immense, and the benefits of that will be durable.
Over the past month there have been episodes of market volatility associated with each of these countries. We are watching developments closely as a further escalation of problems could be a catalyst for a period of increased stress in the global financial markets. The second issue is the housing market and household debt.