NEW YORK ( The FRED Report) -- One of our themes for 2011 at The FRED Report ( www.theFREDreport.com) is that foreign markets will underperform the U.S. indices. At the same time, one of our longer-term themes is that Asia will be where much of the growth is in the future. How do we reconcile these two ideas?We look at some long-term charts of the Asian markets and it seems that while China is the growth engine, the economies that sell to China are actually doing a bit better. We take a look at the FXI and HAO below. Notice that on both on this ETFs, the peak for these have been, so far, November of 2010, while the U.S. market has continued higher.
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