From The International Herald Tribune:
In 2005, Asia reminded the world whose century this is. A booming China, a resurgent Japan and a vibrant India helped shift the pendulum of economic growth eastward. And investors who shook off bad memories from the 1997 financial crisis to bet anew on Asia were not disappointed.
The Morgan Stanley Capital International Asia-Pacific index added 22 percent last year in U.S. dollar terms; gains were far bigger in local currencies. For all the talk of a thriving U.S. economy, the Dow Jones industrial average ended the year 0.6 percent lower.
