Asia expects foreign capital

Asia expects foreign capital

SINGAPORE (DPA): Eighty percent of Asian chief executive
officers believe the region's economic upswing will be sustained
only with foreign capital inflows, a survey showed on Monday.

The significant role of foreign infusions does not constitute
a loss of control for East Asian nations, according to the
findings unveiled at the World Economic Forum's summit in
Singapore.

Some 77 percent of the CEOs perceive no sacrifice of
independence to foreign investors, according to the annual survey
by PricewaterhouseCoopers.

"Eighty-five percent of Asian CEOs are extremely or somewhat
optimistic about economic recovery," the study said.

"Our CEO survey population does not equate capital with
control," said the firm's CEO James Schiro.

Of particular interest was "how this group confronts the
growing pressure for global standards of financial reporting,
especially as the capital markets, rather than short term bank
loans, become the preferred solution for large Asian
corporations," Schiro said.