In China, the fireworks that ushered in the Year of the Horse two weeks ago were bigger than ever before. If the fireworks are predictive (and more wealth means more money for fireworks, many analysts believe), this should be a particularly lucky year for many Asian equities-a year when Asia shifts to a more balanced identity of consumer as well as producer, spender as well as saver. "The region is well positioned," says Sun Bae Kim, managing di-rector for Goldman Sa-chs in Hong Kong, noting the build-up in for- eign-exchange re-serves, and on a com- pany level the improvement in corporate balance sheets. "The headwinds are slowly becoming tailwinds."
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