Asian consumption story will bring more benefit to local economies

Merrill Lynch asks the question: Is Asian consumption an opportunity or a mirage? The bottom line, according to a recent Merrill Lynch report, is the supposed seismic shift in global consumption mostly benefits Asia itself. As the China-driven recovery gains traction in Asia, there's quite a bit of hope for a shift in demand from the US consumer to the Chinese consumer and, consequently, Asia and emerging markets. Merrill Lynch is optimistic that the baton will pass, and that a con…