South Asia: More of a meow than a roar

In the bubble years of the late 1980s, the appreciation of the Japanese yen sent a flood of investment from corporate Japan to the fast-growing economies of Southeast Asia. That was before the rise of China as a manufacturing powerhouse in the 1990s. But today, the optimism accompanying China's ascent has waned ‑ China is more likely to compete with ASEAN economies than support them.

According to Nikkei Asia, such diverse national circumstances suggest that, sadly, Southeast Asia remains less than the sum of its parts -- its once-promising Tiger economies have mostly lost their roar.

Nowhere is this reversal in ASEAN's economic fortunes more apparent than in Thailand, where auto sales have collapsed. Indonesia, which has vast natural and mineral resources, should also be doing better than it is.

While Vietnam is struggling in finding enough workers, not all of Southeast Asia has lost its "Tiger" dynamism.

Laos sells hydropower to its neighbors at a time when cheap power is an increasingly valuable competitive advantage.

Malaysia has benefited from its proximity to Singapore.