Asia now

So says Lehman Brothers'' global chief economist, John Llewellyn, who predicts a 17% appreciation of the Korean won.

In your presentation, you have titled one section Asia a force to be reckoned with in its own right. What do you mean by that

Llewellyn There's been a perception that Asia is an exporter and principally to the US, and that is Asia's role in life. That's not right anymore. Not only is export demand growing strongly, but domestic demand is growing strongly in Asia. That is absorbing imports at a high rate. So Asia is becoming a growth pole in its own right.

Take China. If you look at the absolute increase in China's imports year to year, it's bigger than the absolute increase for Japan. So China...

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