THE obvious picture emerging from the latest Asian Development Bank economic forecasts is the big China story. But that's only half the story. The ADB figures also show that while China may continue to post the highest growth rate in Asia, and even in the world, it is by no means the only fast-growth story. The four Asian dragons - Hong Kong, South Korea, Singapore and Taiwan - have already attracted much attention and academic interest but their neighbours, especially those in South-east Asia and parts of the Indian sub-continent, are in danger of being ignored in the face of the big China angle. Asia's growth may be powered by China but the truth of the matter is that high growth is no longer an issue for most countries in this part of the world. Look around and you can see the zest with which economic growth is pursued by Vietnam, Thailand, Malaysia, Indonesia, Pakistan and Sri Lanka. And with some success. Put simply, this means that the consumer boom brought about by rapid economic growth we often read about in China is not unique. The consumer boom is repeated elsewhere in Asia. Crosby Research believes that countries in this region are experiencing a rapid consumer boom which is likely to gather even greater momentum in the next five to 10 years. Private consumption expenditure looks set to be a major factor for regional growth, especially in the face of falling real deposit rates and declining real prime rates. But the consumption patterns have changed. The growing affluence in the past two decades means that consumers are today more sophisticated and demanding and are inclined to go more for quality than the cost appeal. According to Crosby, there will be a life cycle of certain products which will enjoy rapid surges in demand, depending on the country's stage of economic growth. In China, the next round of consumer demand will be seeing more cars, mobile phones and property being bought. In Hong Kong and Singapore, it will be medical care and overseas property. The implication for investors is clear. Don't put all your eggs in one basket. By all means, go after the China glitter but don't ignore the other sparks in the region.