Amber alert across Asia, but not red

Despite some slowdown, odds of a widespread financial crisis are low

The economic picture in many Asian markets may not be looking all that bright right now but suggestions that we are heading for a repeat of the 1997 Asian financial crisis are grossly exaggerated.

It is true some countries are having problems, says Selena Ling, head of treasury research and strategy with Singapore's OCBC Bank, but she does not think we are heading toward another Asian meltdown.