VeriSign (VRSN) Message Board

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Technology Stocks : VeriSign (VRSN)

VRSN 240.53

-1.0%

Jan 2 9:30 AM EST

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To: harabas who wrote (1126)	11/18/2000 12:07:58 PM
From: Pamina	of 1285

China and payments: The following comments may help to interpret the situation that VRSN faces in China. While China is approximately the 8th largest global economy, with GDP in excess of 800 billion dollars, we are still talking about a relatively closed economy that is strongly biased in favor of exports and selective direct/foreign investment. It should be noted that China's currency is not convertible - meaning - that companies that run profitable businesses in China, are not able to convert their profits to hard currency and repatriate same. Therefore, it is unlikely that VRSN would have anticipated making money from domain name sales in China. The situation may change somewhat for the better both as a result of its quid pro quo with the US gov't for support to enter the World Trade Org and as a consequence of abiding by WTO standards. Pamina

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