Asia’s Deceptively Strong Fiscal Position

While western commentators wring their hands, the numbers tell a different story

The intellectual bias of mostly western commentary on the supposed high risks of investing in “emerging markets” is again roiling stock and currency markets. The failure of these analysts to judge their own nations’ debts and currencies by the same yardsticks is astonishing.

Who would guess, for example, that the much-despised Indonesian rupiah has beha…