Asian governments are also taking dramatic steps, he says, citing Japan's new tax cuts aimed at stimulating growth. The companies hurt most either have big customers in Asia or must compete with Asian companies. Its stock recently dropped 29 percent. Its dominant position in Asia starts to look like a liability. The aircraft giant may lose sales on 60 jetliners in Asia.
Many industries sit comfortably outside the Asian turbulence.
In fact, the lower interest rates expected from Asian problems will work well for virtually all and especially well for some, such as banks. Ironically, some sectors, such as insurance, were frustrated by an inability to penetrate Asia. That liability has now become a bonus. Most US communications companies download revenues domestically. They've been minor players in Asia and will feel minimal impact.