EARLIER this year most businessmen and investors hoped that Asia's emerging economies could withstand the economic and financial turmoil in the developed world.

在今年早些时候，大多数商人和投资者都希望亚洲的新兴经济体能够抵御发达国家的经济和金融风暴。

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It is significant that financial institutions in Hong Kong and Singapore, both of which are wide open to foreign financial companies, have been able to withstand the region's turmoil.

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