S&P says Asia will weather storm

The ratings agency says Asian economies will withstand the current liquidity squeeze, but the corporate sector is now more vulnerable to capital outflows.

Asian economies should weather the storm in global equity and credit markets, according to a report released by Standard and Poor's on Friday.

The credit rating agency is confident that the majority of policy makers have learned the hard lessons of the Asian financial crisis, and that economies around the region have improved their banking systems, reigned in fiscal deficits, reduced external debts, enhanced foreign exchange reserves, and balanced their current accounts.

However, the search for higher yields by foreign...

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