Janet Yellen could be excused for feeling whipsawed in Asia. In Tokyo 17 months ago, before taking over as head of the Federal Reserve, Yellen had to defend the U.S.'s monetary largess in front of a gathering of the testy central bankers. Now the region wants the Fed to go slow as it scales back on monetary stimulus.
Just after midnight one sultry Friday in August 1987, Manila became a battleground as rebel troops attempted a coup against Philippine President Corazon Aquino. Two blocks from the besieged presidential palace, insurgents opened fire on a car carrying Aquino’s only son, a bespectacled and soft-spoken 27-year-old junior insurance executive nicknamed Noynoy.
Thailand’s economy has withstood coups and regime-changing protests for decades, luring manufacturers including Toyota Motor Corp. even when turmoil dented stocks and the baht. This time may be tougher.