Power market in Asia/Pacific to show new life

✍ Scribed by Boyd, Donald M.

• Publisher: John Wiley and Sons
• Year: 2007
• Weight: 720 KB
• Volume: 15
• Category: Article
• ISSN: 0743-5665
• DOI: 10.1002/gas.3410150702

✦ Synopsis

he economic downturn in much of the Asia/ T Pacific region throughout 1998 grabbed headlines and created intense speculation about how widespread the effects would be and how long they would last. Certainly, many companies were forced to rethink major development or expansion plans in the region.

Despite the grim economic situation, however, many factors pointed to a more positive long-term outcome. The continuing Asian fundamentals of a high savings rate, higher lifestyle demands of the citizenry, and export-oriented economies engendered confidence in a recovery. Also, toward the end of the year, numerous encouraging signalwurrency stabilization, stock market rebounds, the pas-. sage of bank restructuring laws and risk evaluation lending-were breathing new life into the region.

Despite the grim economic situation, however, many factors pointed to a more positive longterm outcome.