Singapore is a special place for me. This small city with few natural resources has managed to overcome obstacles to achieve a high degree of economic success. This year is special as it marks the 20th anniversary since we opened Franklin Templeton’s Singapore office. To celebrate this milestone, we chose Singapore to host this year’s first semi-annual EM Analyst conference.
To share the Singapore perspective, I asked Dennis Lim, Co-CEO of Templeton Asset Management, Ltd. and one of the pioneers who started the Singapore office with me 20 years ago, to be my guest blogger to share his insights and analysis on the changes and challenges in Singapore and across Southeast Asia.
I love hearing from readers across the globe. Thank you for continuing to reach out and share your thoughts. This post is dedicated to you. Read on for my answers to some recent questions.
I agree with your outlook on the emerging economies. My concern is the Eurozone, where there is political and currency instability. There is talk that one or more countries may leave the Eurozone/Euro currency. This could be a shock to the financial world, affecting currencies, and banks with exposure may tumble. How would you assess this risk?
- Jainmatrix, India
Yes, the Eurozone problems look to us to be serious. However, I believe the Europeans are on the right track and are addressing the fiscal issues facing not only Greece, but other countries in the Eurozone. Ultimately, these are issues impacting all developed countries, includng the U.S. and Japan.
Colombia is a land of culturally rich colonial cities, lanky skyscrapers, pristine beaches, dense Amazon jungle, snow-capped Andean and Sierra Nevadan mountains, archeological ruins and home to author Gabriel Garcia Marquez. And, I should add, in my view, a country ripe with intriguing potential investment opportunities.
After ten years away from Colombia, I started my tour in Cartagena, on the country’s Caribbean coast and then made my way through Bogota, Medellin and Cali. By the end of my trip I was impressed by the developments I saw. One notable change is the stock exchange integration between Colombia, Chile and Peru, making it the second largest equity exchange in the region. Mexico and other countries have already demonstrated their intention to join.1