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Komfie Manalo, Opalesque Asia:

Financial and corporate communications consultancy firm Smithfield said that the 10 member-states ASEAN (Association of Southeast Asian Nations) generally weathered the shocks of the U.S. tapering quantative easing better than other global emerging markets because there is real economic growth in the region and the majority of the economies and companies had learnt the valuable lessons from the 1997/1998 financial crisis.

In its latest report entitled, "The Outlook for the ASEAN Economies - a compendium of investment views", Smithfield said that Southeast Asia has been vulnerable to frequent shocks, whether they are caused from within (the Asian Financial Crisis in 1997/98) or from outside of the region (the Global Financial Crisis from 2008). The causes are varied, but the impact has been the same; they are large in scale, quick to strike and slow to recover.

These shocks are partly due to the fact that Southeast Asian Nations are closely connected to the global economy.

The report said, "Southeast Asia has been something of a success story over the last few decades. The region has matured significantly; as a block the nations that make up ASEAN are collectively the fifth largest economy at around $2.32tln. With over 600 million people it is the world’s third largest market, behind the developing behemoths: China and India, but ahead of the European Union (which currentl......................

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