Asia will weather economic storm, says Fidelity's Matthews

Asia is well placed to withstand any economic volatility, despite its profits being affected by any ...

Asia is well placed to withstand any economic volatility, despite its profits being affected by any slowdown in the US, according to Fidelity. The group’s Asia chief investment officer Kathryn Matthews said growth in the region would remain high, with a forecast of 7.5% GDP growth in 2008 for Asia-ex Japan, which is five points more than Japan, UK and Europe. She said the Asian economy is propped up by high levels of national savings, increasing fivefold in the last 20 years, while consumer debt has fallen. Corporate debt levels are much lower than in recent past, with a 20% debt to e...