Debunking Local Myths In Asia

According to this New York Times article Asians have one more thing in common with Americans — love for the ol’ credit card.

The consumer credit business is booming in Thailand and throughout Southeast Asia. And, unlike Americans, defaults are unusually low — welcome news to the lenders. Citibank was one of the pioneers in this region; not surprisingly, the company also has a fairly sophisticated Thai Web site. (As an aside, I just completed an exhaustive analysis of 200 global Web sites and Citibank finished in the top 25.)

Which leads me to wonder what other cultural or local myths are simply business opportunities in disguise?

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