Before the Asian crisis Thai banks were worth $200 billion. After the baht’s devaluation they’re worth $125 billion in dollar terms. Foreign companies wanting an Asian presence should move now – things will never be as cheap again.
“If you believe in Asia long-term you should be looking at what you can buy on the cheap,” says Gregory Root, president of rating agency Thompson BankWatch. And Asian resistance to foreign ownership is at its lowest.
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