On the competitiveness front, goods from lower-wage exporters like China are seen as posing serious threats to Thailand and Indonesia.

CNN: A QUESTION OF OPENNESS

The Fed's hawkish credibility, along with cheap goods from China and other low-wage countries, has helped to keep consumer-price inflation relatively tame despite exceptionally loose monetary policy.

ECONOMIST: Reluctant party-poopers | The

According to the survey, 42 percent of high net worth consumers expect to increase their spending on luxury goods as compared to 14 percent of high-wage earning affluents.

FORBES: Survey: Affluent Households Lack Confidence in the Economy