| CORPORATE STRATEGY |
March 2008 |
ASIAN VIEW: HALF FULL AND HALF EMPTY
The region’s economic optimists.
While the latest Duke University/CFO Business Outlook Survey found marked pessimism among CFOs regarding the economy, a recent survey of nearly 8,000 privately held companies finds them much more upbeat. Asia accounted for both the most optimistic and most pessimistic outlooks: the Philippines, India, and Vietnam topped the list of most optimistic countries, but Taiwan, Thailand, and Japan were at the bottom. Out of 34 countries, the United States ranked 26th in its level of optimism. Here’s a snapshot:
|
Balance of Optimism vs. Pessimism
| United States |
(US$bn) |
Philippines
|
95 |
| India |
95 |
| Vietnam |
87 |
| Mainland China |
77 |
| Brazil |
70 |
| Russia |
58 |
| Canada |
42 |
| France |
36 |
| United States |
22 |
| United Kingdom |
14 |
| Italy |
0 |
| Taiwan |
-9 |
| Thailand |
-30 |
| Japan |
-44 |
|
* Calculated by subtracting those who say they are pessimistic regarding the economy over the next 12 months from the number who say they are optimistic, with those voting neutral not counted.
Source: Grant Thornton International Business Report |
