In the Seri Kempangan district on the southern edge of Kuala Lumpur, the capital of Malaysia, US carmaker Ford has just opened a showroom.
The dealer in charge, who gives his name as Raymond, seems unfazed by the economic slowdown in China and the eurozone crisis. “Our people have got money and they are only interested in new models,” he says.
Raymond’s optimism is typical across south-east Asia. Rising wages, strong consumer spending and an increasingly sturdy banking system are all fuelling hopes that the 10-nation Association of Southeast Asian Nations (Asean) may be able to avoid any serious spillover effects of falling growth in China, India and Europe.
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