Frederic Neumann is co-head of Asian Economics Research at HSBC.
Financial markets are in a tizzy. Inflation is rearing its head: commodity prices are near the stratosphere, everything from bicycle parts to semiconductors is in short supply and companies are reporting surging cost pressures. It is easy to paint a picture of runaway price gains for a while to come. But, for most of Asia, the inflation spike should prove transitory.
