Southeast Asia Trip

Midday traffic in Manila

We just returned from 2 weeks of extensive meetings and site visits in Southeast Asia, as you can see from my 3 most recent blogs.  We organized nearly 40 meetings and visits for the executive team of a national trust bank, the fourth such trip we've set up for them to learn more about the global economy and emerging markets as part of their commitment to making better investment decisions for their clients.

I'll be passing on some of the information we gained from meetings with CEO's, central banks, law firms, universities and government officials over the next few blogs.

Our trip started in Manila, bypassed Bangkok because protestors made it impossible to even get to our hotel, much less to all the meetings we'd scheduled, included 2 days in rainy and flooded Jakarta, a week-end at Angkor Wat in Cambodia and 3 days in bustling Singapore.  In the process, we learned a lot about the economies of the Philippines, Indonesia and Singapore--not to mention a bit about the Khmer culture of Angkor.  And, of course about the remarkably clogged streets of Manila and Jakarta, where traveling only 5 miles can take and 1 1/2 hours and our last 2 kilometers to the Jakarta airport took 2 hours.  Those with money use helicopters.

When we decided to cancel our trip to Bangkok, we went to Subic Bay instead, the site of a huge former U.S. naval base, and now an economic development zone, and Clark, another economic development zone situated on the old U.S. Clark Air Force Base near Subic Bay.  We were greeted there by a police escort who roared ahead of us through traffic lights and around slow traffic.  A little more than we needed.  But not a surprise in a country whose infrastructure staggers under its burden of vehicles and people who think they're important (and some even may be) want to get places fast.

Clark police escort

When the U.S. military left these bases, they also left behind an incredible infrastructure that included water and power systems, excellent roads, ports and airports, docks and oil storage tanks, schools, hospitals and much more.  The Philippines has used these to great advantage to create their development zones and to attract foreign companies that have invested significantly in these two areas.  What a windfall.  And one that is greatly appreciated by Filipinos.



Panorama of Subic Bay