2. Marco Montanari, the head of passive asset management for Asia-Pacific at Deutsche AM, agrees that fundamental changes to distribution must be made before the Asian ETF market can move to the next level.
3. History will look back on 2012 as the year when China anointed its "fifth generation" of leaders and shifted to a slower growth trajectory, writes Yukon Huang. This transition will take place against a backdrop of daunting internal challenges — increasing social unrest, widening income disparities and both ecological and man-made disasters — and of escalating external tensions, stemming from America's "pivot" to Asia and simmering regional worries about China's economic rise.