Before the financial crisis, Northeast Asia was xenophobic. Similarly in Taiwan. Since the crisis, Kim Dae-jung has decided to open up.
Korean people are still xenophobic but officially, xenophobia is frowned upon.
That has changed the perceptions of investors and fund managers. Southeast Asia, unfortunately, is slower in restructuring. In the last few months, comments in financial newspapers and in recommendations by fund managers have made a clear distinction between Southeast and Northeast Asia - that Southeast Asia is slower in going through with its restructuring. Now it is seen as slow to change. The digital divide will be another problem.