Rocketing economic growth figures. This year started out looking grim, but at its end seems almost like old times. In 1999, the Asian Economic Crisis turned into the Great Asian Recovery. The region is not out of the woods yet. Bad debt still swaddles banks and corporations.
Growth is uncomfortably dependent on the U.S. appetite for imports.
This was the year the rubber hit the road. President Kim Dae Jung knocked heads, forcing them into deals such as LG Group's sale of its semiconductor division to Hyundai. Hong Kong wooed and won Walt Disney Co., which committed to build its second Asian theme park in the territory. Recovery has begun and is gaining momentum. I think we will see higher growth next year.