Globalization in banking hit Southeast Asia hard in a short span of time, and has changed the way banking is conducted. Finally, the story of banking globalization and national policy response is quite similar across Latin America, with all major economies opening up more to for- eign banks. Southeast Asia, as the next five. 9 Apr Some companies in Asia, especially lesser known non-investment grade firms, are having a hard time generating interest in new bond issues, say asset managers. Deals are also getting smaller. Investors are staying away from longer -term bonds, given expectations of higher interest rates. In response. Hamilton-Hart raises a fascinating, overlooked question: Why is the United States widely viewed as a benign power in Southeast Asia, its presence welcomed rather than feared despite the many violent, selfish, and unwise things it has done over the years?.