单选题 "India is affected by the global financial crisis," says Stuart Fraser, the chairman of the policy committee of the City of London Corporation. "But there is restrained optimism for the longer term. Emerging economies such as India's are modernising very fast. Cities are growing and millions of people are becoming more prosperous."
Infrastructure projects, backed by government funding, now hold some of the greatest appeal. Investors have also been cheered by a relaxation of some of the complicated rules governing foreign investment. This could open up prized sectors such as retail and airlines. But opportunities in heavily regulated financial and professional service sectors, including law and accounting, remain meager.
"We welcome a little easing [of regulation]. But we don't expect any large steps," says Mr Fraser.
The company behind one of the largest foreign investments in India is bullish about the economy's prospects. Vodafone bought a controlling stake in Hutchison Essar, a mobile operator, for ￡5.7bn in 2007.
"India seems to be a bit more {{U}}sheltered{{/U}} than other markets," says Vittorio Colao, Vodafone chief executive. "In the financial sector the contagion has not arrived. There is probably some slowdown in the business process outsourcing business, but not a massive one."
India has faced challenges on other fronts. A terror attack struck at the heart of Mumbai, the country's financial capital, in November. One of the leading IT outsourcing companies, Satyam, revealed a massive fraud earlier this year.
But these events have not made multinational companies less convinced about India's potential.
"The Satyam allegations have raised inevitable questions about corporate governance but do not appear to be representative of the sophisticated and mature business environment in which major corporates operate in India today," says Guy Douglas, a Delhi-based executive with BAE Systems, the defence contractor.
In the past, investors have viewed emerging markets mostly as low-cost production bases, but in today's tough economic environment countries such as Vietnam—which has a population of about 85m—are coming to be seen as potential consumer markets, writes Tim Johnston.
"There are going to be two main value drivers in the current market: cost of production—Vietnam is increasingly on the radar for outsourcing, such as relocating factories from elsewhere in Asia—and for multinationals looking for a growth market," says Warrick Cleine, managing partner in Vietnam for KPMG, the professional services group.
Few of Asia's export-dependent emerging economies have fared well as the downturn strangles demand in their most important markets, but Vietnam has come out fighting. It has stressed its low-cost production base, well-educated workforce and political stability.
There is anecdotal evidence that manufacturers are moving facilities to Vietnam from other parts of Asia: they say it is cheaper than China, more productive than some of its regional competitors, further down the development curve, and seemingly stable within the political boundaries set by the government.
The authorities have worked hard to erase the impression of being{{U}} the wild eastern frontier{{/U}} of capitalism. Regulations have been streamlined; there has been a crackdown on corruption; infrastructure has improved—to a certain extent—and legal protection for investors is tighter.

单选题 The optimism of Stuart Fraser about India's economy comes from the following EXCEPT ______.

A. fast modernizing
B. optimistic prospects in professional service
C. development in infrastructure
D. easier rules and policy for investment

单选题 The word "sheltered" in Paragraph 5 probably means that India's market is ______.

A. protected by the government
B. immature and with many obstacles
C. backward and not free
D. reliant on other countries

单选题 India is different from previous emerging economies in that it is ______.

A. poor in corporate governance with massive fraud
B. considered as one of the low-cost production bases
C. a potential consumer market
D. of a huge population

单选题 Vietnam is able to fare well in the financial crisis because of the following EXCEPT ______.

A. a growing market
B. production cost
C. political stability
D. professional service groups

单选题 The phrase "the wild eastern frontier" may imply that ______.

A. the country is wild without much infrastructure for production
B. the country becomes the colonies of capitalists in the east
C. there are not sufficient laws and regulations just like the Wild West
D. investors tend to regard the country as a dangerous place