Quarterly Business Report: Diamonds Buried in The Rubble

Slowly, cautiously and knowing the risk, some U.S. firms are venturing back into Asia

Psst! Want to expand overseas--cheap? Well, Mr. or Ms. American Executive, have we got a deal for you! How about a plant to make vans in Thailand? Or perhaps a piece of a debt-burdened South Korean electronics firm? Or some Japanese real estate, seized by banks as collateral on defaulted loans? Hurry, hurry! These deals may not last!

Believe it or not, many Asians are making exactly those pitches right now--in more muted terms, to be sure--to U.S. executives and investors. Still more surprising, some of the prospective buyers are beginning to listen. They include a few who only weeks ago...

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