Just when things looked like they were going right in Asia ...Asia is back. For the first time since its financial crisis in the late 1990s, the region is less the subject of cocktail-party jokes than renewed investor interest. Its booming stock markets and strong growth attracted much-needed capital in 2003. As a memorable year draws to a close, some awards seem in order: Look the Other Way Award: To Japan for convincing investors that its long-awaited recovery is afoot. Never mind that the banking system is still a mess or that it's home to myriad zombie A computer that has been covertly taken over in order to perform some nefarious task. It is estimated that millions of PCs around the world have been compromised and, under the control of a third party, routinely transmit messages unbeknownst to the user. companies or that deflation continues apace. Who had time for bad news when the rally in the Nikkei 255 Stock Average was a much sexier story? Sex and the City Award: To Thaksin Shinawatra Thaksin Shinawatra (täk`sĭn shĭ`näwät), 1949–, Thai business executive and political leader, b. Chiang Mai. Born into a wealth merchant family, he went into the Thai police service in 1973 and continued his , the image-conscious prime minister of Thailand. After a couple of years of trying to de-emphasize Bangkok's thriving sex industry, Thaksin is mulling an if-you-can't-beat-'empull-them-into-the-mainstream approach. Getting Thailand's large underground economy to pay taxes will be good news for government coffers. Rodney Dangerfield Rodney Dangerfield (November 22, 1921 – October 5, 2004), born Jacob Cohen, was an American comedian and actor, best known for the catchphrase "I don't get no respect" and his monologues on that theme. Award: This honor goes to Australia. Despite a vibrant economy and a surging currency, many investors view Australia's success as fleeting. Trouble is, they've thought as much for several years now. Australia's boom is for real, and things may only get better as China's rise creates new sources of demand for its goods. Schwarzenegger Award: To Fernando Poe There have been two prominent people known as Fernando Poe:
 This page is currently protected from editing until (UTC) or until disputes have been resolved. , is shaking things up in Manila. Poe next year could win control of one of Asia's most fragile and geopolitically important economies. Brother, Can You Spare $1.7 billion? Award: To LG Card Co., South Korea's largest credit-card company. Nearly broke after giving out so many cash advances to consumers who weren't paying back earlier ones, LG in November was saved from bankruptcy by 2 trillion won worth of new loans. This month, it sought even more money from creditors. Why? So LG can make even more cash advances so consumers can pay it back for cash advances they had already received from LG. Lazarus Award: To Indonesia, an economy resurrected after being left for dead in the late 1990s. In 2003, investors raced back in, even though the economy's warts began showing anew. Political stability is important, but so are good corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. , legal certainty A test in Civil Procedure designed to establish that a complaint has met the minimum amount in controversy required for a court to have jurisdiction to hear the case. Under this test, if it is apparent from the face of the pleadings, to a "legal certainty" that the and predictability. Indonesia, for example, is home to Asia Pulp & Paper Co., one of the biggest defaulters in the emerging markets. Will 2004 be a year of living dangerously? Worst Exit Award: To Mahathir Mohamad, recently retired prime minister of Malaysia The Prime Minister of Malaysia (in Malay Perdana Menteri) is the indirectly elected head of government of Malaysia. He is formally appointed by the Yang di-Pertuan Agong, or Supreme Ruler, of Malaysia, and is invariably the leader of the largest party in the federal House . Until November, Asia's longest-serving leader was a developing-world hero for overseeing Malaysia's metamorphosis from backwater to microchip-exporting powerhouse. Yet in the last few weeks of his tenure, Mahathir made anti-Semitic comments that some world leaders For a list of heads of state, see . World leaders is a MMORPG. The game involves creating a state, joining an alliance and going into war. It is mostly played by players from Israel, China, USA, Britain, Brazil and Saudi-Arabia. felt compelled to condemn. He left office looking less like a visionary than a provincial leader living in the past. Love Me Tender Award: To Beijing, which spent much of 2003 trying to sell China as a modem, benevolent economy. The charm offensive charm offensive Noun a concentrated attempt to gain favour by being helpful and obliging had Chinese officials blanketing the globe to chat up world leaders, human rights activists and investors. Beijing did what Japan hasn't for years: offer fellow Asians a recipe for growth in the region--its booming economy. William Pesek is a columnist for Bloomberg News. |
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