AS a momentous year draws to its finale, with many regional stock markets still behaving like spring lambs, the inevitable question arises: ''Is that the end, or can the boom go on?'' Stock markets do not necessarily track the economic cycle - often performing as leading indicators, rather than reflections of current conditions.
But the latest report from the Organisation for Economic Co-operation and Development (OECD) suggests that there is still some good fundamental news to come in this region.
The outlook for most of the six dragons should put a firm floor under the markets, despite the probability that they will bounce off the ceiling from time to time.
The darkest spots are, not surprisingly, reserved for China. Put any 12 economists in a room, and you may end up with 13 opinions. But if the subject is China, then the number of views is almost unlimited.
The OECD's main message, however, is a fair one. It should not be treated by Beijing as some kind of Western plot to interfere with the process of building a socialist market economy.
The OECD is taking the broad line that long-term development will be better achieved through steady progress rather than through a dash for growth.
