There's the beginning of the process of restoration of confidence. One has to be very careful not to get pessimistic because it is taking longer for everything to turn up. Full effects of monetary policy often take six to 18 months, the same thing for exchange rates. Things are looking up for Thailand, the Philippines and Malaysia.
Political uncertainties make forecasting for Indonesia far more problematic.
The good news is that markets have come to recognize that political problems in one country do not have a strong bearing on other countries. Financial-sector reform, corporate governance and social safety net. Weaknesses in the financial sector have been part of the vulnerability of these economies. Corporate governance issues are among the reasons the financial sector is weak. Lack of transparency has exacerbated their problems.